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Singapore's retail sales up 2.0 pct in September year-on-year

Xinhua, November 15, 2016 Adjust font size:

Singapore's retail sales increased 2.0 percent in September on a year-on-year basis, mainly due to higher sales of motor vehicles, said Department of Statistics Singapore (SingStat) on Tuesday.

Retail sales dropped 1.9 percent year-on-year excluding motor vehicles, said SingStat in the report. The total retail sales value in September was estimated at 3.5 billion Singapore dollars (2.48 billion U.S. dollars), higher than the 3.4 billion Singapore dollars (2.41 billion U.S. dollars) in the same period last year.

While on a month-on-month basis, retail sales decreased by 0.7 percent in September. Excluding motor vehicles, retail sales edged up by 0.7 percent.

Sales for motor vehicles rose 20.4 percent in September year-on-year, the highest increase across all sectors. Sales for recreational goods, mini-marts and convenience stores, and medical goods and toiletries followed, registering an increase of 6.7 percent, 2.9 percent, and 2.1 percent respectively.

On the contrary, computers and telecommunications equipment fell the most, registering a 9.6 percent decline in September year-on-year. It was followed by food and beverages, which decreased 7.8 percent; while watches and jewelry dropped 5.1 percent.

As for food and beverage services, sales for the sector in September rose 3.5 percent year-on-year, also post a 3.6 percent increase on a month-on-month basis. The total sales value for this sector was estimated at 687 million Singapore dollars (486.6 million U.S. dollars), higher than the 664 million Singapore dollars (470.3 million U.S. dollars) in September 2015.

The Retail Sales Index and the Food and Beverage Services Index measure the short-term performance of retail and food and beverage service industries based on their sales records. The sales figures exclude taxes. Endit