Singapore retail sales stagnate in December

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.