- POSTED: 15 Jul 2014 13:02
- UPDATED: 15 Jul 2014 13:14
Retail sales in Singapore rose 5.2 per cent in May from April, but fell 6 per cent when compared with the previous year, mainly due to lower motor vehicle sales.
SINGAPORE: Retail sales in Singapore rose 5.2 per cent in May compared with the previous month, the Department of Statistics Singapore said on Tuesday (July 15). Excluding motor vehicles, overall retail sales rose just 2 per cent.
However, when compared with May 2013, retail sales dropped 6 per cent, mainly due to lower motor vehicle sales. Excluding motor vehicles, retail sales increased marginally by 0.1 per cent.
Retailers of motor vehicles recorded a double-digit sales increase of 23.4 per cent in May from April. But when compared with the previous year, motor vehicle sales fell 26.8 per cent, mainly due to a spike in used-car sales in May 2013 when loan restrictions were temporarily lifted to allow second-hand car dealers to clear their existing stock of cars.
Sales of food and beverage (F&B) services decreased 0.4 per cent in May from the previous month, but rose 1.1 per cent when compared with the previous year.
The Retail Sales Index and the Food and Beverage Services Index measure the short term performance of retail and F&B service industries based on their sales records. The sales figures exclude taxes such as GST and COE.