12.12.201907:11:00UTC+00Singapore Retail Sales Decline In October

Singapore retail sales declined at a faster rate in October, data from the Department of Statistics showed on Thursday.

Retail sales declined 4.3 percent year-on-year in October, following a 2.1 percent fall in September. Economists had expected a 1.5 percent decrease.

Motor vehicle sales decreased 22.7 percent, after a 12.3 percent drop in September. Excluding motor vehicles, retail sales declined 0.6 percent, following a 0.1 percent fall.

Sales of furniture and household equipment, and those of optical goods and book fell by 10.6 percent 6.9 percent, respectively, in October.

On a monthly basis, retail sales fell 2.2 percent, reversing a 2.0 percent rise in September.