Rise in car sales push Singapore’s retail sales higher in July  

Retail sales in Singapore rose during the month of July, compared to a year earlier period, following rise in car sales. Also, higher sales of motor vehicles added to the rise. However, excluding motor vehicles, the country’s retail sales have registered a drop.

Singapore’s retail sales rose 2.8 percent to SGD3.7 billion in July compared to a year ago due mainly to higher sales of motor vehicles, data released by the Department of Statistics showed Thursday. Excluding motor vehicles, retail sales fell 3.1 percent. On a seasonally adjusted basis, retail sales increased 1.4 percent in July over June. Excluding motor vehicles, retail sales rose 3.0 percent.

Compared to a year ago, retail sales of motor vehicles grew by 36.5 percent in July 2016. Retail sales of medical goods and toiletries, mini-marts, convenience stores and supermarkets increased between 0.3 percent and 4.5 percent.

In contrast, retail sales of computer and telecommunications equipment as well as petrol service stations decreased 18.8 percent and 13.6 percent respectively in July 2016 over July 2015.

Meanwhile, retail sales of watches and jewellery, food and beverages, recreational goods, optical goods and books, furniture and household equipment, wearing apparel and footwear and department stores declined between 0.7 percent and 9.6 percent in July 2016.