Singapore retail sales up 1.9% despite drop in auto sales

The Department of Statistics of Singapore (SingStat) revealed that retail sales index went up by 1.9 percent despite the drop in motor vehicles sales.


The latest index released by the Department of Statistics Singapore revealed that the city-state managed to record a 1.9 percent growth in retail sales in the month of June despite the decline in the yields from motor vehicle sales.

Considered as one of the boosters of retail sales, the motor vehicles segment posted a 5.6 percent drop in output for the month. Excluding this segment, overall retail sales would have risen to a more robust 4.0 percent.

It was the same old story with food retailers, whose sales contracted 5.8 percent. Sales of mini-marts and convenience stores also dwindled by 1.4 percent.

Surprisingly, the most stellar performance came from the luxury retailers. Sales of watches and jewellery rose 12.0 percent in the month.

Next to perform best was the motor vehicles segment, posting a 9.8 percent growth in sales. Department stores came in as the third best performer, with sales growing by 7.3 percent.

Singaporeans also splurged more on furniture and household equipment, as sales for said division grew 4.4 percent.

The medical goods & toiletries segment and the computer & telecommunications recorded upticks in sales as well, with expansions of 3.8 percent and 3.4 percent, respectively.

Also to post growth in yields are the wearing apparel & footwear and supermarket segments with 2.9 percent and 2.0 percent.

Recreational goods and optical goods & books did post an increase in sales, albeit at a much slower pace compared to others at 1.7 percent and 0.7 percent, respectively.

This brings the overall retail sales value in June at S$3.7 billion, higher S$3.6 billion last year.