Singapore’s total retail sales value fell 6.1% y-o-y to $3.8 billion in January 2021, according to the Department of Statistics (SingStat) on March 5.

The contraction comes in lower than that of Bloomberg consensus' estimates of -2.5%, according to RHB Group Research.

In comparison, the total sales value in December 2020 fell 3.3% y-o-y to $4.0 million, indicating a 1.8% dip m-o-m, on a seasonally adjusted basis.

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