Retail sales down 1.9% in December on weak vehicle sales

Retail sales down 1.9% in December on weak vehicle sales

Sales of motor vehicles slumped 11.9 per cent from the previous month, according to data released by the Department of Statistics.

SINGAPORE: Retail sales in Singapore fell 1.9 per cent in December from the previous month, as vehicle sales slumped during the year-end period, according to data released by the Department of Statistics (SingStat) said on Wednesday (Feb 15).

Excluding motor vehicle sales, retail sales rose 0.7 per cent last month.

When compared with the previous year, retail sales increased 0.4 per cent, mainly due to a jump in the medical goods and toiletries sector. Excluding motor vehicles, retail sales rose 0.3 per cent.

The total retail sales value for the month was estimated at S$4.2 billion, similar to that in December 2015.

Sales of motor vehicles slumped 11.9 per cent in December compared to November. Sales of computer and telecommunications equipment fell 6.8 per cent, while department store sales fell 2.2 per cent during the same period.

Other sectors reported higher month-on-month sales of between 0.1 per cent and 6 per cent.

Sales of food and beverage services fell 2.2 per cent on a month-on-month basis and declined 0.3 per cent when compared to the previous year. The total sales value in this sector was estimated at S$695 million, lower than the S$698 million in December 2015, SingStat said.

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.

Source: CNA/am

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