Singapore sees retail sales down by 2.2 per cent year-on-year in September

SINGAPORE (Xinhua) – Singapore’s retail sales declined by 2.2 per cent year-on-year in September, compared to a re-calculated four per-cent decrease in August, the Department of Statistics of Singapore announced yesterday.

On a seasonally adjusted basis, the retail sales increased by 1.9 per cent month on month in September, compared to a 1.2 per cent decrease in the previous month.

The authority said excluding motor vehicles, Singapore’s retail sales in September fell by 0.3 per cent year-on-year, but grew by 0.8 per cent month on month.

It added that the estimated total retail sales value in September was about SGD3.5 billion (about USD2.57 billion). Of which, online retail sales made up an estimated 6.9 per cent.

According to the authority, sales of Singapore’s motor vehicles industry declined by 12.3 per cent year on year in September, due to fewer motor vehicles sold. Retailers of the computer and telecommunications equipment industry registered a growth in sales of 8.7 per cent in the month.

Meanwhile, the sales of food and beverage services increased 4.3 per cent year-on-year and 0.4 per cent month-on-month. The sales value was estimated at SGD882 million (USD648.07 million).