Retail sales continue to post slower growth at 0.7%, lowest since February

Singapore's retail sales grew at a slower pace of 0.7 per cent in August, recording a total value of $4.5 billion, data posted on Monday (Oct 5) by the Singapore Department of Statistics (SingStat) showed.

It is the lowest since February.

In comparison, the growth recorded in June and July was 4.1 percent and 1.3 per cent respectively, year-on-year.

Excluding motor vehicles, parts and accessories, retail sales grew by 1.6 per cent, an increase from the 1.3 per cent in July.

On a month-on-month and seasonally adjusted basis, retail sales declined 1 per cent in August, reversing the 0.6 per cent growth in the preceding month.

Excluding motor vehicles, parts and accessories, retail sales expanded by 0.6 per cent, bettering July's 0.4 per cent.

The total value of sales in August was $4.5 billion, but excluding motor vehicles, parts and accessories sales it was $3.8 billion.

According to SingStat, 15.7 per cent of total retail sales were transacted online.

Excluding motor vehicles, parts and accessories, this proportion grew to 18.2 per cent.

Across the 14 categories tracked, sales growth was recorded in eight sectors, year-on-year, with the highest growth recorded in cosmetics, toiletries and medical goods:

• Cosmetics, toiletries and medical goods at 11.2 per cent
• Computer and telecommunications equipment at 10.7 per cent
• Recreation goods at 4.3 per cent
• Petrol service stations at 3.2 per cent
• Department stores at 1.6 per cent
• Supermarkets and hypermarkets at 1.6 per cent
• Furniture and household equipment at 1.1 per cent
• Wearing apparel and footwear at 0.7 per cent

Meanwhile, motor vehicles, parts and accessories recorded the highest decline:

• Motor vehicles, parts and accessories down 4.6 per cent
• Others down 4.3 per cent
• Watches and jewellery down 2.7 per cent
• Food and alcohol down 1.1 per cent
• Mini-marts and convenience stores down 0.6 per cent
• Optical goods and books down 0.5 per cent

The SingStat data also showed that food and beverage (F&B) services sale fell 1.6 per cent, on a year-on-year basis, continuing the 1.9 per cent decline recorded in July. 

The total value of F&B sales stood at about $1.7 billion, with online transactions accounting for 20.6 per cent of the total.

Within the sector, fast food outlets and food caterers registered growth of 7.8 per cent and 2.9 per cent respectively in August. 

But cafes, food courts and other eating places, and restaurants all recorded decrease in sales at 5.3 per cent, 4.8 per cent and 2.1 per cent respectively.

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editor@asiaone.com