Singapore Retail Sales Surge In February

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Singapore retail sales grew in February, data from the Department of Statistics showed on Monday.

Retail sales accelerated 5.2 percent year-on-year in February, after a 6.1 percent fall in January.

Motor vehicle sales declined 9.1 percent annually in February, after a 10.3 percent growth in the previous month.

Excluding motor vehicles, retail sales gained 7.7 percent in February, after a 8.4 percent decrease in the preceding month.

Sales of wearing apparel and footwear surged 31.6 percent yearly in February and those of watches and jewelry rose 34.1 percent.

Sales re creation goods increased 13.9 percent. Sales of supermarkets and hypermarkets, and computer and telecommunications equipment grew by 13.6 percent and 12.8 percent, respectively.

On a monthly basis, retail sales fell 1.6 percent in February, following a 1.7 percent decline in the prior month.

The material has been provided by InstaForex Company – www.instaforex.com

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