Singapore Retail Sales Decrease In February

Singapore retail sales decline at the fastest pace in February, data from the Department of Statistics showed on Friday.

Retail sales declined 8.6 percent year-on-year in February, following a 5.3 percent fall in January.

Motor vehicle sales rose 1.3 percent annually in February, following a 33.6 percent fall in the previous month.

Excluding motor vehicles, retail sales decreased 10.2 percent in February, after a 0.6 percent increase in the preceding month.

Sales of wearing apparel and footwear declined the most by 41.0 percent in February and those of food and alcohol, and department stores decreased 40.5 percent and 36.3 percent, respectively.

On a monthly basis, retail sales dropped 8.9 percent in February, after a 0.2 percent rise in the prior month.

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