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Singapore retail sales expand 5.4% in Aug, bolstered by sales of motor vehicles
RETAIL sales expanded 5.4 per cent year on year in August, lifted by sales of motor vehicles, without which overall sales would have dipped 1.6 per cent.
According to a release from the Department of Statistics (DOS) on Wednesday, sales of vehicles were up by as much as 49.5 per cent year on year and 13.1 per cent month on month.
Month on month, retail sales (seasonally adjusted) were up 5.3 per cent in August, again bolstered by sales of motor vehicles. Stripping out motor vehicles sales, retail sales increased 3.5 per cent.
The total retail sales value for August came to S$3.2 billion, up from S$3 billion a year ago, said DOS.
During August, categories such as recreational goods (-11.5 per cent), furniture and household equipment (-10.8 per cent), and wearing apparel and footwear (-5.1 per cent), saw declines in receipts.
However, these three categories also reported growth month on month of 5.9 per cent, 6.4 per cent and 12 per cent, respectively.
Other categories which posted month-on-month growth were watches and jewellery (7 per cent), and telecommunications apparatus and computers (6.5 per cent).