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Jan 15, 2009

Singapore retail sales decline for a 2nd month

SINGAPORE'S retail sales fell for a second month in November as consumers reduced expenditure on vehicles, clothing and jewelry amid a deepening economic slump.

The retail sales index dropped 3.4 per cent from a year earlier, matching a revised decline in October, the Statistics Department said yesterday.

That compares with the median forecast for a 2.4 per cent contraction in a Bloomberg News survey of six economists. Adjusted for seasonal factors, sales fell 5.2 percent from October. - Bloomberg

Source : BTimes
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