Singapore retail sales lags last Month

Singapore retail sales slid by 1.5 percent in March, after excluding motor vehicle sales from the data. According to Statistics Singapore, most retail categories recorded lower sales for the month compared with the same period last year. Sales of optical goods and books fell by 6.4 percent and of computers and telecommunications equipment by 4.9 percent.

Food retailers, watch and jewelry retailers, and department stores reported sales declines of between 4.6 percent and 5.7 percent.

In contrast, sales of medical goods and toiletries rose by 2.8 percent, due in part to higher demand for cosmetics. Supermarkets and hypermarkets registered sales growth of 0.9 percent.

Month on month, Singapore retail sales were essentially stable.

The total market for March was estimated at $3.8 billion, with online sales comprising about 5.3 per cent.

Year-on-year sales of food and beverage services in Singapore rose by 0.7 percent in March.

On a seasonally adjusted basis, sales of food and beverage services increased 1.3 percent month on month.

Total sales value for the sector was $868 million, compared to $863 million in March last year.