Singapore's Retail Sales Up 8.3% in February

MT Newswires04-06

Singapore's total retail sales rose 8.3% year on year in February, according to data released by the Department of Statistics Singapore on Monday.

The latest reading marked a sharp recovery from the 0.5% decline in January.

Excluding motor vehicles, retail sales jumped 11.2% year on year in February.

However, on a seasonally adjusted month-on-month basis, retail sales fell 4.1% during the month, the data showed. Excluding motor vehicles, seasonally adjusted retail sales declined 4.2%.

Estimated total retail sales came in at SG$4.2 billion in February, with online sales making up 14.1% of it, the data showed. Excluding motor vehicles, total retail sales were SG$3.6 billion.

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