‘Real’ Singapore retail sales improve
Even with the effect of motor vehicle sales removed from the data Singapore retail sales in August showed a welcome marked improvement.
Seasonally adjusted total sales (including cars) rose five per cent in August over July – and without cars by 3.7 per cent.
Year on year they rose 6.1 per cent including cars, and a more modest 1.3 per cent excluding cars.
The total retail sales value in August 2015 was estimated at $3.5 billion, higher than the $3.3 billion in August 2014.
Seasonally adjusted sales of food & beverage services reached S$652 million, an increase of 2.4 per cent month on month but a fall of 4.8 per cent year on year.
Apparel & footwear proved the big winner month on month, rising 10.1 per cent. Sales of furniture & household equipment, telecommunications apparatus & computers, medical goods & toiletries, department stores, watches & jewellery, supermarkets and mini-marts & convenience stores rose between 0.7 per cent and 8.0 per cent over the same period.
Year on year, sales of medical goods & toiletries rose 10.9 per cent in August. Sales of watches & jewellery, department stores, furniture & household equipment, supermarkets and telecommunications apparatus & computers rose between 1.2 per cent and 8.7 per cent. Sales of optical goods & books decreased 11.8 per cent, and sales of food & beverages, mini-marts & convenience stores and recreational goods also declined between 0.2 per cent and 6.4 per cent over the same period.
In the food and beverages services category, fast food sales rose by 10.8 per cent in August, over July. Year on year, food catering sales fell 13.9 per cent.