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Singapore's April retail sales up 3.8% year on year, driven by vehicle sales

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A 43.0 per cent year-on-year increase in the sales of motor vehicles drove up Singapore's retail sales in April by 3.8 per cent.

A 43.0 per cent year-on-year increase in the sales of motor vehicles drove up Singapore's retail sales in April by 3.8 per cent.

According to the Department of Statistics, excluding motor vehicles, retail sales decreased by 3 per cent year on year.

Total retail sales value in April this year was estimated at S$3.5 billion, higher than the S$3.3 billion in April 2015.

Motor vehicle sales experienced the largest increase, while mini-marts and convenience stores saw sales grow 3.9 per cent in April, year on year.

Telecommunications apparatus and computers had the largest decline, however, with sales falling 17.1 per cent year on year. During the same period, sales of watches and jewellery also fell, declining by 11.3 per cent.

On a seasonally adjusted basis, retail sales grew 1.1 per cent in April 2016 over the previous month. However, excluding motor vehicles, sales rose by a mere 0.1 per cent compared to March 2016.

sentifi.com

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