Singapore Retail Sales Increase In December

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5:52 GMT

Feb 2009

Singapore Retail Sales Increase In December

(RTTNews) - Friday, the Singapore Department of Statistics said that retail sales rose 20.1% month-on-month in December, after falling 3.4% in November. Economists were looking for a decrease of 5.6%. Excluding motor vehicles, retail sales increased 20.6%.

On a seasonally adjusted basis, retail sales grew 2.7% in December, compared with a 5.2% decline in the previous month.

Year-on-year, retail sales decreased 1.6% in December, excluding motor vehicles it fell 3.7%. Meanwhile, retail sales volume declined 3.9% after removing price effect. Excluding motor vehicles, it dropped 4.9%.

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