Higher auto sales in May drive retail sales growth in Singapore

Retail sales in Singapore rose during the month of May, driven by growth in automobile sales, especially motor vehicles.

Singapore’s retail sales grew 3 percent to SGD3.7 billion in May compared to SGD3.6 billion a year ago. Excluding motor vehicles, retail sales decreased 3.3 percent, data released by the Department of Statistics showed Friday. Also, retail sales rose 1.4 percent in May compared to that in April, on a seasonally adjusted basis.

Further, retail sales of two-wheelers rose 35.9 percent in May y/y, with sales of furniture and household equipments, as well as medical goods and toiletries rose 3.1 and 1.9 percent respectively over the same course of time.

However, sales of telecommunication apparatus and computers fell 17.3 percent and 14.9 percent respectively during the month of May. Retail sales of recreational goods, optical goods, books, watches, jewellery, food and beverages, supermarkets, mini-marts, convenience stores, apparel, footwear and department stores also fell between 1.9 percent and 8.7 percent in May.

Sales at restaurants and other fast food joints rose 6.7 percent and 1.1 percent respectively in May, compared to the same period a year ago. However, turnover of food caterers and restaurants decreased 3.7 percent and 3.6 percent respectively over the period.

Meanwhile, the food and beverage services index rose 0.7 percent in May, generating total sales estimated at SGD690 million, higher than the SGD685 million reported a year ago.