Singapore retail sales up 0.4% in December
In this article (4)
Singapore’s retail sales rose 0.4 per cent in December 2016 compared to the same month in 2015, mainly due to higher sales of medical goods & toiletries.
Stripping out sales of motor vehicles, retail sales went up by 0.3 per cent, the Department of Statistics said on Wednesday.
Compared to November, the seasonally adjusted retail sales figure decreased by 1.9 per cent in December. Excluding motor vehicles, they rose 0.7 per cent.
Notably, retailers of medical goods & toiletries reported 9.9 per cent increase in sales year on year. Surprisingly, motor vehicle sales rose only 0.9 per cent year on year.
On a seasonally adjusted basis, motor vehicles sales recorded a dip of 11.9 per cent compared to November. Retail sales of computer & telecommunications equipment and department stores also fell 6.8 per cent and 2.2 per cent respectively over the same period.
Questions & Answers
Q.What was the overall change in Singapore's retail sales in December 2016 compared to the previous year?
What was the overall change in Singapore's retail sales in December 2016 compared to the previous year?
Singapore’s retail sales saw an increase of 0.4 per cent in December 2016 compared to December 2015. This growth was primarily driven by higher sales within the medical goods and toiletries sector.
Q.Which retail sectors experienced a decline in sales over the year?
Which retail sectors experienced a decline in sales over the year?
Retail sales for computer and telecommunications equipment dropped by 6.8 per cent year-on-year. Department stores also reported a decrease, with their sales falling by 2.2 per cent over the same period.
Q.How did motor vehicle sales perform in December compared to the previous month, after seasonal adjustment?
How did motor vehicle sales perform in December compared to the previous month, after seasonal adjustment?
On a seasonally adjusted basis, motor vehicle sales experienced a significant decline of 11.9 per cent in December 2016 when compared to sales figures from November. This indicates a monthly dip.
Reader pulse
Is 0.4% YoY growth a positive sign?
22,758 votes so far