January 12, 2018 / 5:17 AM / 8 days ago

Singapore November retail sales rise highest in nearly two years

SINGAPORE (Reuters) - Singapore’s on-year retail sales in November jumped the highest in nearly 2 years thanks to a surge in computer and telecommunications equipment sales, data showed on Friday.

Total retail sales rose 5.3 percent from a year earlier, after falling a revised 0.2 percent in the previous month, according to data from the Singapore Department of Statistics.

Sales of computer and telecommunications equipment grew 16.6 percent from a year earlier and 46.5 percent from the month before.

This is the highest on-year retail sales growth since March 2016 when it grew the same amount, Reuters data shows.

On a month-on-month and seasonally adjusted basis, total retail sales rose 5.1 percent in November after rising 1.5 percent in the previous month.

Reporting by Fathin Ungku; Editing by Gopakumar Warrier

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