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March 14, 2008 Friday Subscribe today: Print Edition | Online
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March 14, 2008
S'pore Jan retail sales index falls 2.2% from Dec
SINGAPORE'S retail sales fell in January, dropping a seasonally adjusted 2.2 per cent from December, data showed.

The fall in retail sales in January after adjustment for seasonal patterns follows a 1.7 per cent rise in December. From a year ago, the January index rose 7.8 per cent, higher than the 2.5 per cent rise in December.

Spending rose from last year, lifted by higher sales at petrol stations and department stores, however, a break down of the seasonally adjusted numbers were not available.

Economists had forecasted January retail sales to rise from a year earlier, lifted by healthy wage growth in Singapore's tight job market and higher spending ahead of the Lunar New Year holiday in February.

Excluding motor vehicle sales, the January index was 0.7 per cent lower after adjustment for seasonal patterns, following a 2.5 per cent fall in December, the Department of Statistics said on Friday. -- REUTERS

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