Singapore retail sales rise 1.8% in July

SINGAPORE – Retail sales in Singapore continued to modestly improve with a slightly stronger-than-expected 1.8 per cent rise in July from a year ago, as the majority of categories enjoyed growth.

Analysts polled by Bloomberg had tipped sales to rise by 1.7 per cent.

July’s performance was slightly below the revised 2 per cent rise in takings in June, which followed the 0.8 per cent increase in May.

Sales of cars and other vehicles edged up 0.3 per cent year-on-year, turning around from the 5.6 per cent drop in sales in June. Excluding this category, July retail sales grew 2.2 per cent year-on-year, according to the Department of Statistics data released on Tuesday (Sept 12).

The total retail sales value in July was estimated at S$3.7 billion, higher than the S$3.6 billion in July 2016.

Compared to the previous month, retail sales increased by 3 per cent over June. Excluding motor vehicles, they rose 2.6 per cent.

Sales at petrol service stations, and of medical goods & toiletries, department stores, watches & jewellery, wearing apparel & footwear, computer & telecommunications equipment, recreational goods, motor vehicles and supermarkets increased between 0.1 per cent and 8.1 per cent.

On the other hand, retail sales of furniture & household equipment, food retailers, mini-marts & convenience stores and optical goods & books declined between 1.2 per cent and 6.3 per cent.

Source: http://www.straitstimes.com/business/economy/singapore-retail-sales-rise-18-in-july