Singapore retail sales slip in June
Singapore retail sales – excluding motor vehicles – decreased by 2.7 per cent in June, according to Statistics Singapore.
The headline figure, which includes motor vehicles, was down 8.9 per cent, reflecting the high volume of cars sold in June last year and a lower COE quota for May to July this year.
Month-on-month, Singapore retail sales were down 0.4 per cent, excluding vehicles.
Online accounted for 5.5 per cent of the S$3.5 billion in retail spending for June.
Sales of furniture & household equipment declined 15.1 per cent year on year, attributed to higher sales in the sector during last year’s Hari Raya festive season. Similarly, the computer & telecommunications equipment and watches & jewellery sectors reported sales down by 7.7 per cent and 4.8 per cent respectively, driven in part by lower demand for handphones and jewellery.
Sales of medical goods & toiletries and of apparel & footwear both grew by 1.4 per cent.
Compared to the same period last year, sales of food & beverage services grew by 5.3 per cent in June, estimated at $864 million, compared to $820 million in June last year.
Sales by fast-food outlets grew by 10.6 per cent compared to June last year, due partly to the opening of new outlets by some major fast food chains. Food caterers, restaurants and other eating places (such as cafes)were up by between 3.2 per cent and 5.7 per cent during the period.