Singapore retail sales growth picks up to 4.5% in October

[SINGAPORE] Singapore retail sales grew 4.5 per cent year on year in October, accelerating from the previous month, with most industries recording higher sales, data from the Singapore Department of Statistics showed on Friday (Dec 5).

Retail sales in September were revised down to 2.7 per cent year on year.

Excluding motor vehicles, retail sales grew 3.7 per cent in October, picking up from September’s revised 1.8 per cent expansion.

On a seasonally adjusted, month-on-month basis, retail sales rose 2.3 per cent in October, compared with a 1.7 per cent decline in the previous month.

Excluding motor vehicles, retail sales expanded 2.9 per cent on the month, against September’s 2.6 per cent contraction.

Retail sales growth

Year on year: 4.5 per cent

Year on year, excluding motor vehicles: 3.7 per cent

Month on month, seasonally adjusted: 2.3 per cent

Month on month, seasonally adjusted, excluding motor vehicles: 2.9 per cent

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Total retail sales value: S$4.4 billion

Year on year, sales grew in 10 of the 14 categories:

• Department stores: 2.8 per cent
• Supermarkets and hypermarkets: 3.6 per cent
• Mini-marts and convenience stores: 3.3 per cent
• Motor vehicles: 9.7 per cent
• Cosmetics, toiletries and medical goods: 6.9 per cent
• Furniture and household equipment: 2.9 per cent
• Recreational goods: 20.4 per cent
• Watches and jewellery: 25 per cent
• Computer and telecommunications equipment: 3.1 per cent
• Optical goods and books: 6.9 per cent

These categories posted a decline:

• Food and alcohol: -2.5 per cent
• Petrol service stations: -17.4 per cent
• Wearing apparel and footwear: -3.7 per cent
• Others: -9.2 per cent

Food and beverage services growth

Year on year: 2.4 per cent

Month on month, seasonally adjusted: 4.3 per cent

• Restaurants: -0.6 per cent
• Fast-food outlets: 4.4 per cent
• Food caterers: 12.8 per cent
• Cafes, food courts and other eating places: 1.3 per cent