Despite the slower pace of auto sales.
It would seem like the motor vehicles segment failed to buoy Singapore retail sales in December. Good thing, other segments posted modest growth.
For the said month, overall retail sales were up 0.4% YoY, primarily driven by the 9.9% growth in medical goods & toiletries.
Retail sales' constant booster, the motor vehicles segment, only contributed a measly 0.9% growth in the said month. On a quarterly basis, it slumped 11.9%, dragging MoM growth to -1.9%.
Retail sales in department stores, food and beverage, petrol services, wearing apparel, watches and jewellery, and computer and technology equipment were also in a slump recording 0.3% to 9.0% declines.
The total retail sales value in December was estimated at $4.2b.
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