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Singapore retail sales up 0.9% y-o-y in May, down 1% m-o-m

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RETAIL sales in Singapore in the month of May notched minute gains when compared to a year ago, but weakened from the preceding month.

RETAIL sales in Singapore in the month of May notched minute gains when compared to a year ago, but weakened from the preceding month.

Data released by the Department of Statistics showed that total sales was up 0.9 per cent year-on-year when measured in current prices. When stripping away car sales, it was a weaker 0.6 per cent.

However, it dipped one per cent from April. Excluding car sales, it fell by a deeper 3 per cent.

Car sales, which can be greatly affected by the supply of certificates of entitlement (COE) and government policies, was up 2 per cent year-on-year, and 8 per cent month-on-month.

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On a year-on-year basis, sales at petrol service stations were the strongest at 11.3 per cent while food retailers, which sell food that is not meant for immediate consumption on their premises, saw sales fall by 5.2 per cent.

On a month-on-month basis, car sales saw the best performance while sales of apparel and footwear fell the most at 10.5 per cent.

Sales of food and beverage services fell both in year-on-year and month-on-month terms in May. It fell by 3.6 per cent when compared to a year ago, and dipped 0.2 per cent from April.

The total retail sales value in May 2017 was estimated at S$3.7 billion, similar to May 2016.

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