Singapore retail sales growth extends in March

(Source: Bigstock)

Singapore retail sales, after excluding motor vehicles from the data, rose 2 per cent in March, extending the 9.5 per cent growth in February.

The estimated total retail sales value was SG$3.5 billion (US$2.58 billion), of which 11.7 per cent was contributed by online transactions, according to the Department of Statistics.

On a seasonally adjusted basis, retail sales edged down by 0.3 per cent compared to February.

Food & alcohol led the trade sector with a 17 per cent year-on-year increase in sales, followed by watches & jewellery with an improvement of 14.1 per cent.

Meanwhile, retailers in the computer & telecommunications equipment and mini-marts & convenience stores industries reported declines of 5.1 per cent and 3.7 per cent respectively.

For food & beverage services, sales rose 5 per cent year on year to SG$982 million (US$726 million), following the 14.8 per cent increase in February. On a seasonally adjusted basis, sales dropped 3.1 per cent compared to February. 

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