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Singapore’s August retail sales up 3.5% y-o-y
SINGAPORE retail sales in August rose 3.5 per cent from a year ago, continuing its positive year-on-year growth seen in previous months, based on data released by the Department of Statistics on Thursday.
With motor vehicles sales stripped out, retail sales rose 3.7 per cent year on year.
Most categories showed better retail takings in August versus a year ago, with nine out of 13 categories having positive growth.
Petrol service stations led the pack, notching up 9.5 per cent gains year on year, followed by recreational goods (8.3 per cent) and medical goods and toiletries (7.6 per cent). Motor vehicle sales rose 2.8 per cent year on year.
The four categories which saw a slide in sales were optical goods and books (-4.1 per cent), food retailers (-2.1 per cent), mini-marts and convenience stores (-1.1 per cent) and watches and jewellery (-0.4 per cent).
However, when compared to the previous month, total retail sales fell 0.3 per cent. Excluding motor vehicles, retail sales slipped 1.2 per cent.
The total retail sales value in August 2017 was estimated at S$3.7 billion, higher than the S$3.5 billion a year ago.
Source: http://www.businesstimes.com.sg/government-economy/singapores-august-retail-sales-up-35-y-o-y