SINGAPORE - Retail sales slipped 7.8 per cent year-on-year in August as sales of motor vehicles took a nose dive, according to data released by the Department of Statistics on Monday.
Get the full story from The Business Times.
Here is the full press release from SingStat:
Retail Sales by Sector Month-on-Month Change (Seasonally Adjusted)
After seasonal adjustment, retailers of recreational goods and wearing apparel & footwear recorded double-digit sales increases of 20.2 per cent and 13.5 per cent respectively in August 2013 over July 2013 (Table 1) . Retail sales of motor vehicles, department stores, watches & jewellery, medical goods & toiletries , food & beverages, supermarkets and petrol service stations also increased between 1.0 per cent and 5.5 per cent compared to the previous month.
On the other hand, retail sales of telecommunications apparatus & computers decreased 1.5 per cent in August 2013 over July 2013.
Compared to August 2012, retailers of motor vehicles reported a 41.5 per cent decline in sales while retail sales of telecommunications apparatus & computers and furniture & household equipment also decreased 7.7 per cent and 7.1 per cent respectively in August 2013. In contrast, retailers of recreational goods recorded a double-digit sales increase of 11.2 per cent in August 2013 over August 2012.
Similarly, turnover of food & beverages, optical goods & books, department stores, supermarkets, petrol service stations, provision & sundry shops and medical goods & toiletries increased between 2.1 per cent and 6.2 per cent.
Sales of Food & Beverage Services by Sector Month-on-Month Change (Seasonally Adjusted)
After seasonal adjustment, restaurants and food caterers recorded slight decreases in receipts of 1.0 per cent and 0.3 per cent respectively in August 2013 compared to the previous month. On the other hand, turnover of fast food outlets and other eating places (such as cafes and canteens) in creased marginally by 1.0 per cent and 0.7 per cent res pectively during the same period.
On a year-on-year basis, all categories recorded increases in receipts in August 2013.
Turnover of fast food outlets, food caterers, restaurants and other eating places grew between 1.9 per cent and 5.7 per cent during this period.