June Singapore retail sales figures disappoint
June Singapore retail sales remained static in June, rising a mere 0.2 per cent after motor vehicles were excluded from the data.
Month on month, retail sales excluding cars fell by 1.8 per cent.
Considering higher fuel prices drove a 9.3 per cent increase in sales year on year, traditional retail sales probably did not increase at all in June. Statistics Singapore said that in volume terms, after removing the price effect, the increase recorded by petrol service stations was 0.2 per cent.
Sales of medical goods & toiletries increased by 5.8 per cent, due to higher sales of cosmetics & toiletries. Sales of recreational goods rose by 5.7 per cent, mainly from sporting apparel during the FIFA World Cup.
Sectors to record declines in June Singapore retail sales included computer and telecommunications equipment (down 8.5 per cent), watches & jewellery (down 6.3 per cent) and optical goods & books (down 2.6 per cent). Following sales growths in the previous month, sales of department stores and furniture & household equipment decreased by 1.9 per cent and 1.1 per cent, respectively.
Most food & beverage service industries achieved higher turnover in June this year, compared with last year. Fast-food outlets, food caterers and restaurants rose between 4.8 per cent and 8.4 per cent during this period.
In contrast, sales of other eating places, such as cafes, fell by 1.9 per cent.