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Singapore November retail sales

Monday, January 14, 2008

SINGAPORE (Thomson Financial) - Retail sales in Singapore fell 0.3 percent to 2.7 billion Singapore dollars in November from a year before because of a sharp decline in motor vehicle sales, the Department of Statistics said Tuesday.

Excluding motor vehicle sales, retail sales would have risen 11.8 percent in November.

The annual growth was below the 3.5-5.9 percent rise forecast by most economists polled by Thomson Financial. An exception among those polled was Action Economics, which was expecting a 4.3 percent contraction due to poor motor vehicle sales.

Compared to October, retail sales fell 3.3 percent, the department said. Excluding motor vehicle sales, retail sales would have been up 1.1 percent from October.

Sales at department stores, supermarkets, gas stations and stores that sell furniture, watches, jewelry, computers and telecommunications equipment remained strong in November compared to a year before, the department said.

The catering trade was also strong, its sales rising 6.9 percent to 371 million dollars in November from a year earlier, and rising 1 percent from October.

(1 US dollar = 1.42 Singapore dollars)

Posted by MOHAMED SAID at 9:32 PM  

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