Singapore retail trade records 4.3% drop in October on slowing motor vehicle sales

SINGAPORE (Dec 16): Singapore’s total retail sales value fell 4.3% year-on-year to $3.6 billion in October, led by a decline in motor vehicles retail sales, according to latest data by the Singapore Department of Statistics (DOS).

Motor vehicles retail sales dropped 22.7% y-o-y, due to lower COE quota for the period of August to October 2019. Excluding motor vehicles, retail sales declined 0.6%.

Other top declining industries in October include Furniture & Household Equipment, which saw sales fall 10.6% y-o-y, while sales of Optical Goods & Books and Petrol Service Stations retreated 6.9% and 6.2% respectively.

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