Retail sales up 3.5% in August, led by strong petrol station sales

Retail sales up 3.5% in August, led by strong petrol station sales

A petrol pump in Singapore. (File photo: TODAY)

SINGAPORE: Retail sales in Singapore rose 3.5 per cent in August from the previous year, with most sectors seeing an uptick, according to figures released by the Department of Statistics (Singstat) on Thursday (Oct 12).

Excluding motor vehicles, retail sales increased 3.7 per cent from the previous year. On a month-on-month seasonally adjusted basis, retail sales for August fell 0.3 per cent in total, and 1.2 per cent excluding motor vehicles.

Petrol service stations saw the highest year-on-year increase in sales, rising 9.5 per cent. Recreational goods saw the second-highest increase, rising 8.3 per cent compared to the same period last year.

In contrast, optical goods and books fell 4.1 per cent compared to the previous year, followed by food retailers - which sell food and drink not meant for immediate consumption on their premises - which saw a decline of 2.1 per cent.

The total retail sales value was estimated at S$3.7 billion, up from S$3.5 billion in the same period last year.

Sales of food and beverage services rose 3.7 per cent compared to a year ago, with total sales value estimated at S$729 million, higher than the S$703 million in August 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/nc