Singapore retail sales growth softens in September

Singapore retail sales – excluding motor vehicles – were up only 0.5 percent year-on-year in September, a slowdown compared to the 4 per cent increase in August.

According to the Department of Statistics Singapore, the total retail sales value was about US$2.5 billion, down 0.8 percent month over month on a seasonally adjusted basis. Online retail sales accounted for 15.2 percent of total sales value.

By industry, sales of food & alcohol jumped 22.6 percent, followed by toiletries & medical goods (10.3 percent) and apparel & footwear (8.1 per cent).

Retailers of computer & telecommunications equipment and furniture & household equipment recorded declines in sales of 12.7 percent and 4.8 percent, respectively.

Sales of food & beverage services rose 6.9 percent yearly to US$726 million, following the 8.6 percent growth in August. Approximately 23 percent of this came from online sales.

All industries within this sector posted sales growths, led by food caterers with a 24.1 percent increase.