Singapore retail sales dip 1.9% in November as Singles’ Day helps boost recovery
- Posted by: vitu
- Categories: Business, Singapore
SINGAPORE – The slump in Singapore’s retail sales eased further in November, thanks to various mega sales events, such as Singles’ Day and Black Friday, as well as new mobile phone launches.
Takings at the till declined 1.9 per cent in November last year, compared with the same month in 2019, a stark improvement from the revised 8.5 per cent decline in October, according to data released by the Department of Statistics on Tuesday (Jan 5).
It outshone the median forecast of an 8.1 per cent decline from economists polled by Bloomberg.