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Singapore's retail sales up 6.1% in May on exuberant car sales

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People looking at used cars at Turf City. Retail sales in Singapore rose 6.1 per cent in May compared to the previous year, mainly due to a big jump in the sales of motor vehicles, figures from the Singapore Department of Statistics showed on Wednesday.

A WHOPPING 46.6 per cent increase in motor vehicles sales boosted Singapore's retail sales in May, which rose 6.1 per cent year-on-year, according to data released by the Department of Statistics on Wednesday.

Excluding the exuberant car sales, retail sales would have increased a far more modest 0.9 per cent.

Total retail sales value in May was estimated at S$3.5 billion, higher than May 2014's S$3.3 billion.

The high double-digit surge in motor vehicle sales helped to offset poorer performances in areas such as petrol services stations (-16.2 per cent), recreational goods (-11.9 per cent), and optical goods & books (-8.3 per cent).

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In contrast, retail sales of medical goods & toiletries, department stores, and supermarkets rose 10.3 per cent, 4.9 per cent, and 3.6 per cent respectively.

On a seasonally-adjusted basis, retail sales rose 2.4 per cent in May over the previous month.

Excluding motor vehicles, retail sales would have increased 1.8 per cent month-on-month.

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