Retail sales up 2.2% in October, mostly due to vehicle sales

Retail sales up 2.2% in October, mostly due to vehicle sales

The total retail sales value in October was estimated at S$3.7 billion, higher than the S$3.6 billion in October 2015.

SINGAPORE: Retail sales in Singapore increased 2.2 per cent in October from the previous year, according to figures released by the Department of Statistics (Singstat) on Thursday (Dec 15).

Excluding motor vehicles, total retail sales were 0.3 per cent lower than October last year.

On a month-on-month basis, retail sales rose 1.7 per cent. Excluding motor vehicles, it increased 1.5 per cent.

The total retail sales value in October was estimated at S$3.7 billion, higher than the S$3.6 billion in October 2015.

Retailers of motor vehicles recorded a sales increase of 14.5 per cent from the previous year, the largest out of all the sectors. Supermarkets, department stores, medical goods and toiletries, petrol service stations, recreational goods, food and beverages as well as watches and jewellery saw more moderate growth, with sales rising between 0.3 per cent and 5.6 per cent.

Computer and telecommunications equipment continued to see the largest fall in sales across the sectors, dropping 8.1 per cent from the previous year. Other sectors that suffered included wearing apparel and footwear, furniture and household equipment, as well as optical goods and books. Sales for these sectors dipped by between 1.8 per cent and 3.5 per cent.

Sales of food and beverage services also increased 0.8 per cent compared to the previous year. However, it recorded a 3.2 per cent decline from the previous month. The total sales value in this sector was estimated at S$689 million, higher than the S$683 million in October 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/dl

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