Singapore retail sales rise 2.5 percent year-on-year in November 2023

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On January 5, 2024, Retail sales rose 2.5 per cent in November 2023, compared to a 0.1 per cent decline in October, with the highest growth rates seen for food and alcohol, and motor vehicles, as well as watches and jewellery.

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On a month-on-month seasonally adjusted basis, retail sales grew 0.5 per cent, against the previous month’s 0.9 per cent fall, according to figures released by the Singapore Department of Statistics (SingStat).

Excluding motor vehicles, seasonally adjusted retail sales remained at a similar level as October 2023.

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