Singapore Retail Sales Fall 0.7% In November

(RTTNews) - Singapore's retail sales decreased for the first time in five months in November, preliminary data from the Department of Statistics showed on Friday.

Retail sales dropped 0.7 percent annually in November, reversing a 2.4 percent increase in October.

Sales excluding motor vehicles declined 1.4 percent versus a 0.5 percent increase in the previous month.

There was an 11.0 percent plunge in sales of computer and telecommunications equipment, and the demand for wearing apparel and footwear was 3.8 percent lower. Meanwhile, sales of food and alcohol showed an increase of 5.6 percent.

Sales at mini-marts and convenience stores shrank 8.6 percent, and those at petrol service stations slid by 5.4 percent.

The index for food and beverage services grew 3.9 percent year-on-year in November, following a 3.9 percent rise in the prior month.

The online sales proportion was 14.6 percent of the overall retail sales, higher than the 12.6 percent recorded a month ago.

On a monthly basis, retail sales fell a seasonally adjusted 2.8 percent in November compared to a 0.3 percent rise in October.