Singapore retail sales rebound in March, up 1.1% after prior dip

[SINGAPORE] The Republic’s retail sales rose 1.1 per cent in March, reversing February’s 3.5 per cent decline, data from the Department of Statistics (SingStat) showed on Monday (May 5).

Excluding motor vehicles, retail sales rose 0.7 per cent year on year, compared with a decrease of 6.5 per cent in February.

Retail sales growth

Year on year: 1.1 per cent

Year on year, excluding motor vehicles: 0.7 per cent

Month on month, seasonally adjusted: -2.8 per cent

Month on month, seasonally adjusted, excluding motor vehicles: -1.2 per cent

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Total retail sales value: S$4.3 billion

Year on year, sales grew in seven of 14 categories:

• Supermarkets and hypermarkets (3.4 per cent)
• Motor vehicles (3.3 per cent)
• Cosmetics, toiletries and medical goods (3.6 per cent)
• Furniture and household equipment (2.5 per cent)
• Recreational goods (3.2 per cent)
• Watches and jewellery (13.5 per cent)
• Computer and telecommunications equipment (0.2 per cent)

The remaining categories posted a decline:

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Singapore retail sales fare worse than expected, down 3.6% in February from earlier Chinese New Year

• Department stores (-2.4 per cent)
• Mini-marts and convenience stores (-3 per cent)
• Food and alcohol (-5.1 per cent)
• Petrol service stations (-8.2 per cent)
• Wearing apparel and footwear (-8 per cent)
• Optical goods and books (-6.2 per cent)
• Others (-1.9 per cent)

Food and beverage services growth

Year on year: -2.8 per cent

Month on month, seasonally adjusted: -3.2 per cent

• Restaurants (-6.6 per cent)
• Fast food outlets (-3.6 per cent)
• Food caterers (19.6 per cent)
• Cafes, food courts and other eating places (-4.2 per cent)