Economic Buzz: Singapore retail sales drop 0.7% in November

Retail sales in Singapore fell by 0.7% year-on-year in November 2024, marking the first contraction since June and the steepest in seven months. Declines were noted in department stores (-3.7%), mini-marts (-8.6%), petrol stations (-5.4%), and computer & telecom equipment (-11.0%). Growth slowed for food & alcohol (5.6%) and motor vehicles (5.2%). Seasonally adjusted, sales fell 2.8% month-on-month, the first dip in five months.

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