Singapore Retail Sales Rise In October

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Retail sales in Singapore rose a seasonally adjusted 6% month-on-month in October at current prices, rebounding from the downwardly revised 8% decrease in the previous month, Statistics Singapore reported on Tuesday, in line with economists' expectations. The growth in sales was largely attributed to increased sales of motor vehicles. Excluding motor vehicles, sales decreased by 1.9% from the preceding month.

On a yearly basis, retail sales dropped 4.4% in October, considerably slower than the downwardly revised 12% decline in September. Economists had expected sales to fall 3%. Excluding motor vehicles, sales were down 0.8%.

Meanwhile, catering trade rose a seasonally adjusted 1.1% from the previous month but dropped 5.2% from a year ago.

Retail sales in Singapore rose a seasonally adjusted 6% month-on-month in October at current prices, rebounding from the downwardly revised 8% decrease in the previous month, Statistics Singapore reported on Tuesday, in line with economists' expectations. The growth in sales was largely attributed to increased sales of motor vehicles. Excluding motor vehicles, sales decreased by 1.9% from the preceding month. (Market News Provided by RTTNews)