Singapore domestic wholesale trade falls further in Q1

May 21, 2009
Singapore Democrats

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RTTNews

Thursday, a report by Statistics Singapore said the domestic wholesale trade declined a seasonally adjusted 11% sequentially in the first quarter, slower than a 29.1% drop in the fourth quarter.

After removing the price effects, the domestic wholesale trade was down 2.4% in the first quarter compared to a 2.9% fall in the fourth quarter.

Year-on-year, the wholesale trade at current prices dipped 34.5% in the first quarter, much faster than a 23% decline in the preceding quarter. At constant prices, the wholesale trade fell 6.8% compared to a 5.4% decline in the fourth quarter. Meanwhile, the foreign wholesale trade declined a seasonally adjusted 10.5% in the first quarter compared to the fourth quarter, and after adjusting for price effects was down 1.9%.

On a yearly basis, the foreign wholesale trade dropped 36% at current prices and fell 9.7% at constant prices in the first quarter.

http://www.rttnews.com/Content/AsianEconomicNews.aspx?Node=B2&Id=956338