February Singapore retail sales decline
Real February Singapore retail sales – those excluding motor vehicles – fell by 4.5 per cent year-on-year.
Month-on-month, they rose a negligible 0.4 per cent.
Statistics Singapore estimated the total value of retail sales in February at $3.3 billion, similar to February 2016. Including motor vehicles, year-on-year sales were down 2.5 per cent.
Apparel and food led the overall year-on-year decline in sales decreasing by between 12.5 per cent and 17.4 per cent. Sales at mini-marts & convenience stores and of computer & telecommunications equipment declined 8.9 per cent and 5.7 per cent respectively.
Fuel, motor vehicles, medical goods, furniture and household items, books, watches and jewellery sales rose by between 0.1 per cent and 9.4 per cent.
Sales of food & beverage services
Sales of food & beverage services fell by 7.4 per cent in February, although this is likely partly explained by the earlier timing of Lunar New Year.
Turnover of restaurants fell 18 per cent in February compared to the same month last year. Similarly, turnover of fast food outlets and food caterers decreased 5.9 per cent and 1.5 per cent respectively.
In contrast, sales of other eating places increased 2.9 per cent year-on-year.