Singapore retail sales growth in September eases to 2.8%

[SINGAPORE] Singapore retail sales grew 2.8 per cent year on year in September, easing from the previous month, even as most industries recorded higher sales, data from the Singapore Department of Statistics showed on Wednesday (Nov 5).

Retail sales in August were revised upwards to 5.3 per cent year on year.

Excluding motor vehicles, retail sales grew 2 per cent in September, slowing down from August’s revised 4.7 per cent expansion.

On a seasonally adjusted month-on-month basis, retail sales were down 1.4 per cent in September, compared with a 0.7 per cent growth in the previous month. Excluding motor vehicles, retail sales shrank 2.3 per cent, against August’s 1.5 per cent expansion.

Retail sales growth

Year on year: 2.8 per cent

Year on year, excluding motor vehicles: 2 per cent

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Month on month, seasonally adjusted: -1.4 per cent

Month on month, seasonally adjusted, excluding motor vehicles: -2.3 per cent

Total retail sales value: S$4.1 billion

SEE ALSO

Singapore retail sales rise 5.2% in August, exceeding expectations

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

• Department stores: 3.9 per cent
• Supermarkets and hypermarkets: 5.1 per cent
• Motor vehicles: 7.8 per cent
• Cosmetics, toiletries and medical goods: 1.9 per cent
• Furniture and household equipment: 0.3 per cent
• Recreational goods: 11 per cent
• Watches and jewellery: 16.6 per cent
• Computer and telecommunications equipment: 2.8 per cent
• Optical goods: 5.1 per cent

Other categories posted a decline:

• Mini-marts and convenience stores: -0.2 per cent
• Food and alcohol -3 per cent
• Petrol service stations: -8 per cent
• Wearing apparel and footwear: -3.6 per cent
• Others: -11.4 per cent

Food and beverage services growth

Year on year: -1.6 per cent

Month on month, seasonally adjusted: -1.3 per cent

• Restaurants: -10.6 per cent
• Fast-food outlets: 1.8 per cent
• Food caterers: 16.8 per cent
• Cafes, food courts and other eating places: 0.2 per cent