Singapore retail sales stagnate in December
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Singapore retail sales were static in December, increasing just 0.6 per cent year-on-year, after excluding motor vehicles.
With vehicles included, they rose by 4.6 per cent. Month on month they declined 0.2 per cent against November or by 2.6 per cent with vehicles excluded.
The figures would have disappointed retailers after a strong November, although that was fuelled in part by the launch of new iPhone models.
Last November, retail sales grew by 5.3 per cent year-on-year, or by 4.7 per cent excluding motor vehicles.
That said, computer and telecommunications equipment sales rose 15.2 per cent in December. Sales by supermarkets, of wearing apparel and footwear, recreational goods, and by food retailers and department stores increased between 1 per cent and 8.2 per cent during the period.
But sales of watches and jewellery, optical goods and books, by mini-marts and convenience stores, of medical goods and toiletries and of furniture and household equipment declined by between 0.4 per cent and 8.2 per cent year-on-year in December.
Sales of food & beverage services (seasonally adjusted) increased 3.1 per cent year-on-year.
Questions & Answers
Q.Did all retail categories experience stagnation in December?
Did all retail categories experience stagnation in December?
No, some categories saw growth. Computer and telecommunications equipment sales rose by 15.2 per cent. Supermarkets, apparel, footwear, recreational goods, food retailers, and department stores also saw increases between 1 per cent and 8.2 per cent.
Q.Which retail sectors saw a decline in sales during December?
Which retail sectors saw a decline in sales during December?
Sales of watches and jewellery, optical goods and books, mini-marts and convenience stores, medical goods and toiletries, and furniture and household equipment all declined. These drops ranged from 0.4 per cent to 8.2 per cent year-on-year.
Q.How did November's retail performance compare to December's?
How did November's retail performance compare to December's?
November showed stronger growth, with retail sales increasing by 5.3 per cent year-on-year. This was partly attributed to new iPhone launches. In contrast, December's sales were largely static.
Q.What impact did vehicle sales have on the overall December figures?
What impact did vehicle sales have on the overall December figures?
Excluding motor vehicles, retail sales increased by only 0.6 per cent year-on-year. With vehicles included, the overall increase was higher at 4.6 per cent, indicating vehicles played a significant role in the total growth figure.