Retail sales down in September as vehicle sales plunge

Retail sales down in September as vehicle sales plunge

File photo of cars in a showroom in Singapore.

SINGAPORE: Retail sales in Singapore fell 0.5 per cent in September from the previous year, mainly due to a plunge in sales of motor vehicles, according to figures released by the Department of Statistics (Singstat) on Friday (Nov 10).

Excluding motor vehicles, retail sales increased 3.3 per cent from the previous year. On a month-on-month seasonally adjusted basis, retail sales for September fell 4.2 per cent in total, and 0.2 per cent excluding motor vehicles.

Motor vehicles saw a 15.3 per cent decline in sales from the previous year, while computer and telecommunications equipment saw the second-highest decrease, falling 7.4 per cent compared to the same period last year.

In contrast, supermarkets saw a 9.8 per cent increase in sales while petrol service stations' sales increased by 9.2 per cent compared to the previous year.

The total retail sales value was estimated at S$3.4 billion, lower than the S$3.5 billion in the same period last year.

Sales of food and beverage services also decreased 0.3 per cent compared to a year ago, with total sales value estimated at S$712 million, lower than the S$714 million in September 2016.

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/mz