2024.01.0505:23:00UTC+00Singapore Retail Sales Rebound In November

Singapore's retail sales grew in November after declining in the previous months, preliminary data from the Department of Statistics showed Friday.

Retail sales rose 2.5 percent year-on-year following a 0.1 percent decline in October.

Sales excluding motor vehicles grew 1.4 percent year-on-year, reversing a 1.0 percent fall in the previous month.

Among different industries, the food and alcohol sector logged the biggest growth of 13.6 percent.

Sales of automobiles and watches and jewelry grew 12.9 percent, mainly due to the regulations regarding the number of vehicle registrations and greater demand for jewelry.

Meanwhile, sales for recreational goods and furniture & household equipment decreased 10.6 percent and 5.6 percent, respectively.

Compared to the previous month, retail sales rose a seasonally adjusted 0.5 percent in November and sales excluding automobiles were unchanged.

Online retail sales claimed 15.2 percent of total sales value of S$4.1 billion in November. This was driven by higher online sales during the year-end online shopping events such as Singles' Day and Black Friday.