Singapore retail sales stabilise

Real Singapore retail sales rose 2.6 per cent in July over June and by 0.8 per cent year on year.

That’s according to official government data after the sales of motor vehicles are removed from the figures.

That follows falls of 3.9 per cent and three per cent in June, respectively.

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

Year on year, sales of watches & jewellery fared the best, up 11.7 per cent. Retail sales of medical goods & toiletries, telecommunications apparatus & computers, recreational goods and department stores all rose between three and 10 per cent.

In contrast, retail sales of petrol service stations decreased 16.4 per cent; sales of furniture & household equipment, optical goods & books, mini-marts & convenience stores, food & beverages, wearing apparel & footwear and supermarkets declined between 0.8 per cent and 5.5 per cent.

After seasonal adjustment, month on month sales of wearing apparel & footwear, furniture & household equipment, supermarkets and petrol service stations declined between 0.7 per cent and five per cent.

Watches & jewellery, medical goods & toiletries and recreational goods increased between 10.6 per cent and 13.4 per cent compared to June. Sales of telecommunications apparatus & computers, optical goods & books, food & beverages, mini-marts & convenience stores and department stores rose between 0.7 per cent and 8.2 per cent.

Meanwhile, sales of food and beverage services (seasonally adjusted) increased 3.1 per cent in July 2015 over June, but declined one per cent year on year. The total sales value of food & beverage services in July 2015 was estimated at $640 million, lower than the $647 million in July 2014.