Singapore retail sales flat in December

Singapore retail sales were flat in December, after motor vehicles were removed from the data, rising by a mere 0.1 percent.

Including motor vehicles, a decrease of 3.4 percent was recorded, but this relates more to the scarcity of Certificates of Entitlement by which Singapore’s government restricts the number of vehicles on the roads. New vehicle sales were down by 24 percent year on year.

Compared with November, and again excluding vehicles, retail sales slipped by 1.4 percent.

Singapore retail sales totaled SG$4.2 billion (US$3.2 billion) for the month. Significantly, online shopping accounted for 6.8 percent of that figure, one of the highest rates yet.

Aside from cars, the worst-performing retail categories were furniture & household equipment down 8.2 percent, and computer & telecommunications equipment, down 6.3 percent. Sales at department stores fell 5.6 percent, and optical goods & books recorded a 1.2 percent decline.

Categories to post growth included watches & jewelry (up 8.9 percent). Retailers of petrol service stations, medical goods & toiletries, and mini-marts & convenience stores achieved growth rates between 3.1 percent and 5.4 percent.

Compared to the same period last year, Sales of food & beverage services in December increased by 2.7 percent to an estimated SG$964 million, compared to $938 million in December 2018.

Turnover of fast-food outlets, cafes, food courts & other eating places, and restaurants

Increased by between 2 percent and 7.7 percent year on year.