Singapore Retail Sales Growth Accelerates to 4.5% in October
Singapore's retail sales increased by 4.5% year-on-year in October, marking an acceleration from the previous month, as most sectors reported higher sales, according to data released on Friday (Dec 5).
September's retail sales growth was revised downward to 2.7% year-on-year.
Excluding motor vehicles, retail sales rose 3.7% in October, up from September's revised growth of 1.8%.
On a seasonally adjusted month-on-month basis, retail sales climbed 2.3% in October, rebounding from a 1.7% decline in the prior month.
Excluding motor vehicles, retail sales expanded 2.9% month-on-month, compared with a 2.6% contraction in September.
Retail Sales Growth Highlights
Year-on-year: 4.5%
Year-on-year (ex-motor vehicles): 3.7%
Month-on-month (seasonally adjusted): 2.3%
Month-on-month (seasonally adjusted, ex-motor vehicles): 2.9%
Total retail sales value: S$4.4 billion
Year-on-year sales growth was recorded in 10 out of 14 categories:
- Department stores: 2.8%
- Supermarkets and hypermarkets: 3.6%
- Mini-marts and convenience stores: 3.3%
- Motor vehicles: 9.7%
- Cosmetics, toiletries and medical goods: 6.9%
- Furniture and household equipment: 2.9%
- Recreational goods: 20.4%
- Watches and jewellery: 25%
- Computer and telecommunications equipment: 3.1%
- Optical goods and books: 6.9%
Declines were seen in:
- Food and alcohol: -2.5%
- Petrol service stations: -17.4%
- Wearing apparel and footwear: -3.7%
- Others: -9.2%
Food and Beverage Services Performance
Year-on-year: 2.4%
Month-on-month (seasonally adjusted): 4.3%
- Restaurants: -0.6%
- Fast-food outlets: 4.4%
- Food caterers: 12.8%
- Cafes, food courts and other eating places: 1.3%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
