Singapore retail sales see softer decline in July

Singapore retail sales dropped 2.3 percent in July after motor vehicles were excluded from the data, compared with the 3.1 percent decline in June.

According to the Department of Statistics, the estimated total retail sales value in July was SG$3.4 billion (US$2.6 billion), of which 14 per cent came from online.

On a seasonally adjusted basis, retail sales increased 0.5 percent month on month.

The department stores and wearing apparel and footwear industries led the decline, with sales down 11.2 percent and 10.3 percent, respectively. Sales of optical goods and books fell 8.7 percent, mainly due to lower book demand.

Meanwhile, the petrol service stations, food and alcohol, supermarkets and hypermarkets, and watches and jewelry industries recorded sales growths of between 0.8 percent and 4.7 percent.

Sales of food and beverage services edged up 0.2 percent in July following a 1.9 percent increase in June.

The total sales value of F&B services in July was SG$989 million, of which 23.8 per cent were from online.