Overall Singapore retail sales down 1.4% in March
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Due to a drop in car deals.
Retail sales in Singapore contracted by 1.4% month-on-month in March, following a 4.8% drop in car sales.
Excluding motor vehicle deals, retail sales contracted by 0.6%.
On a year-on-year basis, overall sales rose by 5.1%. Excluding motor vehicles, sales dropped by 2.2%.
The total retail sales value in March 2016 was estimated at $3.7 billion, compared to $3.5 billion in March 2015.
Questions & Answers
Q.What was the main reason for the month-on-month decrease in Singapore's retail sales in March?
What was the main reason for the month-on-month decrease in Singapore's retail sales in March?
The primary cause for the 1.4% month-on-month contraction in retail sales was a significant 4.8% drop in car sales. Without motor vehicles, the contraction was a smaller 0.6%.
Q.Did retail sales perform better when compared to the previous year?
Did retail sales perform better when compared to the previous year?
Yes, overall retail sales showed growth on a year-on-year basis, increasing by 5.1%. However, excluding motor vehicles, sales saw a 2.2% drop compared to the previous year.
Q.What was the total estimated value of retail sales in March?
What was the total estimated value of retail sales in March?
The total retail sales value for March was estimated at $3.7 billion. This figure represents an increase compared to the $3.5 billion recorded in March of the previous year.
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