Check out which industry dragged Singapore’s retail sales in November
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The said industry posted a 13.5% decline.
Due to the 17% growth in motor vehicle sales, overall retail sales in Singapore posted a 1.1% spike. Without the said industry, retail sales would have slumped 2.1%. Guess which industry posted the heaviest drag.
According to the Department of Statistics, retail sales of computer & telecommunications equipment declined 13.5% in November compared to last year.
Likewise, retail sales of watches and jewellery, wearing apparel & footwear, furniture & household equipment, supermarkets, f&b, department stores, mini-marts & convenience stores, and petrol services fell between 1.1% to 6% during the said period.
Questions & Answers
Q.Which retail sector experienced the most significant decline in sales during November?
Which retail sector experienced the most significant decline in sales during November?
Retail sales of computer and telecommunications equipment saw the heaviest drag, declining by 13.5% in November compared to the previous year. This was the largest drop reported among the retail industries mentioned.
Q.What prevented Singapore's overall retail sales from falling in November?
What prevented Singapore's overall retail sales from falling in November?
A significant 17% growth in motor vehicle sales offset declines in other sectors, leading to a 1.1% overall increase in retail sales. Without this growth, total retail sales would have slumped by 2.1%.
Q.Which other retail categories also saw a decline in sales during November?
Which other retail categories also saw a decline in sales during November?
Watches and jewellery, wearing apparel and footwear, furniture and household equipment, supermarkets, and f&b all saw sales fall. Department stores, mini-marts and convenience stores, and petrol services also experienced declines.
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What's the main driver of this decline?
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