Singapore retail sales up 4.7% year-on-year, boosted by car sales

ONCE more, a massive double-digit surge in motor vehicle sales pulled up Singapore’s retail sales in November. In year-on-year terms, retail sales grew 4.7 per cent, according to data released by the Department of Statistics on Friday.

Excluding the significant 59.7 per cent jump in car sales, retail sales would have actually fallen 2 per cent.

The total retail sales value in November 2015 was estimated at S$3.5 billion, higher than the S$3.3 billion in November 2014.

Apart from car sales, only two other segments – department stores and medical goods and toiletries – experienced growth. The former rose 1.3 per cent year-on-year in November, and the latter, 9.6 per cent.

All other segments reported a slippage in retail sales, with the worst-performing category being petrol service stations, with a 15.8 per cent drop. Food and beverages followed, with a 11.4 per cent decrease.

On a seasonally-adjusted basis, retail sales increased 1.4 per cent in November over the previous month.

Excluding motor vehicles, however – sales of these fell 0.6 per cent month-on-month – retail sales would have increased a larger 1.9 per cent from October.