Singapore Retail Sales Fall In December

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Statistics Singapore said on Friday that retail sales in the country slid a seasonally adjusted 0.9% month-on-month in December at current prices. This was wildly off analyst expectations for a 1.2% rise and follows a 0.8% increase in the previous month.

Excluding motor vehicles, sales were down a modest 0.4%.

On a yearly basis, retail sales dropped 5% in December, faster than the revised 1.7% decline in November. Economists were looking for a 1% fall. Excluding motor vehicles, sales were up 1.5%.

Meanwhile, catering trade rose a seasonally adjusted 3.3% month-on-month in December. Compared to December 2008, catering trade rose slightly by 0.2%.

Statistics Singapore said on Friday that retail sales in the country slid a seasonally adjusted 0.9% month-on-month in December at current prices. This was wildly off analyst expectations for a 1.2% rise and follows a 0.8% increase in the previous month. (Market News Provided by RTTNews)