Overall retail sales down 5% in January

Due to low food & beverage sales.

Overall retail sales slipped 5% year-on-year in January, on back of a massive 42.1% drop in retail sales of food & beverages.

F&B sales decreased mainly due to higher sales recorded a year ago when Chinese New Year fell in January 2014.

On a month-on-month basis, overall retail sales increased 4.8%, on back of a 22.8% jump in motor vehicle sales.

The total retail sales value in January 2015 was estimated at $3.7 billion, lower than the $3.9 billion in January 2014.

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