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Strong growth in F&B, supermarkets lifts Singapore retail sales
Sales were up 2% in January.
It would seem like the constant lifter of Singapore retail sales which is the motor vehicles segment has lost its spark in the past few months, making way for other segments to shine.
According to the latest figures from the Department of Statistics, January retail sales were up 2%, driven by sales of food & beverage establishments and supermarkets.
F&B sales recorded a 12% growth in sales for the said month, whilst supermarkets garnered a 13% growth. Sales of motor vehicles, on the other hand, only contributed a 2.1% uptick.
Across the board, only mini-marts, furniture, recreational goods, and optical goods recorded slumps between 2.8% and 9.7%.
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