Real Singapore retail sales slump 4.5 per cent
Real Singapore retail sales – the data which excludes motor vehicles – slumped 4.5 per cent from August to September according to government data.
Year on year sales fell 1.4 per cent, recorded Statistics Singapore.
The total retail sales value in September 2015 was estimated at $3.4 billion, higher than the $3.2 billion in September 2014 (including motor vehicles).
Sales of food & beverage services (seasonally adjusted) decreased 1.6 per cent in September over August and by 2.7 per cent year on year.
The total sales value of food & beverage services in September 2015 was estimated at $629 million, lower than the $647 million in September 2014.
Adding to the concern is that September was the month the city hosted the annual Formula One Grand Prix, traditionally a high driver of inbound tourists.
The greatest impact on retail sales was a 12.3 per cent decline in sales of watches and jewellery and a 10.2 per cent fall in sales of recreational goods, month on month.
Sales of clothing, footwear, medical goods, toiletries, optical goods, books, furniture, household equipment; and sales at mini-marts, convenience stores and department stores declined between 2.3 per cent and 8.8 per cent.
On the upside, retail food and beverage sales, phones, computers and sales at supermarkets rose between 0.8 per cent and 1.7 per cent.
Year on year, sales at supermarkets, department stores and of medical goods and toiletries grew between 2.8 per cent and 3.9 per cent.
Sales of optical goods, books, recreational goods, clothing, footwear, phones, computers, watches, jewellery, food, furniture and household equipment; and at mini-marts and convenience stores, declined between 0.4 per cent and 9.9 per cent year on year.
In the restaurant and hospitality data, fast food sales rose 6.3 per cent year on year, while restaurants declined 7.2 per cent.