Excerpt from CNA:
January retail sales rise 4.8% year-on-year on subdued car purchases
SINGAPORE : Retail sales in Singapore rose 4.8 percent in January compared with the same period a year ago.
This is according to latest data from the Department of Statistics.
The number was largely in line with expectations.
The muted rise in retail sales was largely because Singaporeans did not rush out to buy big ticket items such as cars.
Minus the car sales figures, retail sales rose 9.7 percent on year in January.
The boost came from higher sales of food and beverages over the Chinese New Year period which fell in that month.
According to the data, supermarkets and department stores reported a roaring trade.
Food and beverage sales rose 34 percent on year in January while department store sales increased nearly 12 percent.
On a seasonally-adjusted basis, retail sales fell 3.9% in January compared with December last year.
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I do not know about you guys but this article is really confusing me. Just look at the sentences in bold and you will know what i mean. If we have a drop in retail sales from last december, just say so, dun have to say we are better than last year january or that retails sales is good without car purchases...I mean, after all, we want to know the bottom line, but I think all we are getting is a confusing line.
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