Singapore's retail sales rise 0.4 percent in December

Singapore's retail sales increased marginally by 0.4 percent in December year-on-year, moderated by low vehicle sales, said the Department of Statistics Singapore (SingStat) on Wednesday.

On a month-on-month basis, retail sales decreased 1.9 percent in December 2016, SingStat added. Excluding motor vehicles, retail sales increased 0.7 percent.

The total retail sales value in December 2016 was estimated at 4.2 billion Singapore dollars (2.96 billion U.S. dollars), similar to that in December 2015.

Retail sales of medical goods and toiletries rose by 9.9 percent year-on-year. Retail sales of recreational goods and furniture and household equipment also grew by 3.2 percent and 2.1 percent respectively over the same period.

On the contrary, sales for computer and telecommunication equipment fell 9 percent in December 2016. Retail sales of petrol service stations, food and beverages, wearing apparel and footwear, watches and jewellery and department stores also decreased between 0.3 percent and 2.2 percent during this period.

Sales of food and beverage services decreased 2.2 percent in December 2016 compared to the previous month.

The total sales value of food and beverage services in December 2016 was estimated at 695 million Singapore dollars, lower than the 698 million Singapore dollars in the same period of 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. (1 Singapore dollar = 0.7 U.S. dollar) Endit