Singapore retail sales dip 3.4% in February, ending five-month growth streak

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Retailers in Singapore saw a lull in February, following a festive spending boom a month before. The Department of Statistics said retail sales fell 3.4% on-year and dipped 1% on a monthly basis. Most sectors recorded declines in sales, with food and alcohol, motor vehicles, as well as mini-marts and convenience stores leading the slump. In contrast, sales of cosmetics, toiletries and medical goods skyrocketed due to higher demand for pharmaceutical products.

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