Singapore Retail Sales Fall Further

Singapore's retail sales declined further in May, figures from the Department of Statistics revealed on Friday.

Retail sales fell 2.1 percent year-on-year in May, following a 1.9 percent decline in April. Economists had expected a 3.0 percent fall.

Excluding motor vehicles, total retail sales fell 1.0 percent in May, following a 2.1 percent decrease in the preceding month.

Sales of motor vehicles and Furniture declined 7.5 percent each in May. Computer and telecommunications equipment, and optical goods and books industries sales eased by 7 percent and 4.9 percent, respectively.

On a monthly basis, retail sales dropped 2.2 percent in May, after a 0.4 percent rise in the prior month.

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