Singapore retail sales notch record 52.1% drop in May on 'circuit-breaker' fallout

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SINGAPORE retail sales plummeted by a record degree in May, as the second month of the national “circuit breaker” extended the sector’s losses. Read more at The Business Times.

Motor vehicles sales plunged by 85.7 per cent and spending at petrol stations lost 58.2 per cent.

Otherwise, optical goods and books sales fell by 81.9 per cent; recreational goods by 74.2 per cent; furniture and household equipment by 64.2 per cent; and food and alcohol by 58 per cent. Yet sales at supermarkets and hypermarkets grew by 56.1 per cent, while mini-marts and convenience stores were up by 9.1 per cent, “due to higher demand for groceries”, SingStat said. These stores, which could remain open, were the only types of retailers to post growth.

Shops deemed non-essential were shuttered during the"circuit breaker", or quasi-lockdown, in April and May. Meanwhile, eateries could operate only delivery and takeaway services.

 

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