Singapore Feb retail sales fall 2.5% on year, first drop since August
SINGAPORE (April 12): Singapore's retail sales in February fell from a year earlier for the first time since August, due to a sharp drop in the sales of food, beverages and apparel and a decline in sales at department stores and supermarkets, data showed on Wednesday.
Total retail sales fell 2.5% from a year earlier, after increasing by a revised 2.3% in the previous month, according to data from the Singapore Department of Statistics.
Retail sales fell 17.4% in the food and beverages sector in February from the year earlier, while department stores sales dropped 15.0%. Supermarket sales fell 15.4% and apparel and footwear sector sales declined 12.5%. However, total retail sales rose 2.3% in February On a month-on-month and seasonally adjusted basis, after falling by a revised 1.1% in the previous month.
Tags: retail sales - department stores - Supermarkets - food and beverages sector - apparel and footwear sector
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