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Singapore Retail Sales Decline At Slower Pace

Singapore retail sales declined at a slower rate in September, data from the Department of Statistics showed on Monday.

Retail sales fell 2.2 percent year-on-year in September, following a 4 percent decline in August. Sales were forecast to fall 3 percent.

Motor vehicle sales decreased 12.3 percent, after a 20.3 percent drop in August. Excluding motor vehicles, retail sales declined 0.3 percent, following a 0.9 percent fall.

Sales of watches and jewelry and furniture and household equipment fell 4.4 percent 8.9 percent, respectively, in September.

On a monthly basis, retail sales grew 1.9 percent, reversing a 1.2 percent fall in August.

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