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Singapore February retail sales slip 2.5%

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Singapore's retail sales slipped slightly by 2.5 per cent in February 2017 compared to a year ago.

SINGAPORE'S retail sales slipped slightly by 2.5 per cent in February 2017 compared to a year ago.

Excluding motor vehicle, retails sales fell by 4.9 per cent, based on the latest data released by the Department of Statistics Singapore on Wednesday.

Double-digit declines were seen in food and beverages (-17.4 per cent), supermarkets (-15.4 per cent), department stores (-15 per cent) as well as wearing apparel and footwear (-12.5 per cent).

Petrol service stations registered an increase of 14.6 per cent, while motor vehicles rose 9.4 per cent.

Compared to the previous month, retail sales in February 2017 rose a seasonally-adjusted 2.3 per cent. Excluding motor vehicles, retail sales increased 0.4 per cent.

The total retail sales value stood at an estimated S$3.3 billion, similar to a year ago.

sentifi.com

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