Real Singapore retail sales post solid growth
Real Singapore retail sales – the data with motor vehicles excluded – showed solid 4 per cent year-on-year growth in June.
The increase was predominantly driven by a rebound in sales of luxury watches and jewellery, the category up 12 per cent.
Statistics Singapore says sales totalled $3.7 billion in June, which was 0.1 per cent more than in May, after excluding motor vehicles from the total, or 1.9 per cent with vehicles included.
Compared to June 2016, retail sales at service stations, supermarkets and department stores and of furniture and household equipment, medical goods and toiletries, computers and telecommunications equipment, apparel and footwear, recreational goods and optical goods and books rose between 0.7 per cent and 9.8 per cent.
Conversely, retail sales by food retailers and mini-marts and convenience stores declined by between 1.4 per cent and 5.8 per cent, compared with June 2016.
Sales of food & beverage services (seasonally adjusted) increased 2.1 per cent month-on-month and 1 per cent year-on-year, at $680 million.