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Singapore Retail Sales Decline Slows In December

Singapore retail sales decline slowed in December, data from the Department of Statistics showed on Wednesday.

Retail sales declined 3.4 percent year-on-year in December, following a 4.2 percent fall in November. Economists had expected a 1.1 percent increase.

Motor vehicle sales decreased 24.1 percent, after a 22.4 percent drop in November.

Excluding motor vehicles, retail sales edged up 0.1 percent in December, after a 0.8 percent fall.

Sales of computer and telecommunications equipment, and those of furniture and household equipment fell by 6.3 percent 8.2 percent, respectively, in December.

On a monthly basis, retail sales fell 1.0 percent in December, after remaining unchanged in the previous month.

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