Retail sales down 5.2% on year in Aug, led by motor vehicles and petrol prices

Singapore’s retail sales fell by 5.2 per cent in August compared to the same period last year.

Compared to August 2008, turnover of motor vehicles dropped by 11.6 per cent and sales at petrol service stations dropped by almost 14 per cent, due partially to lower petrol prices.

After adjusting for price changes, the volume of petrol sales declined by seven per cent over a year ago.

However, on a month-on-month basis, retail sales rose by 5.2 per cent in August compared to July, mainly due to a 13 per cent jump in the sale of motor vehicles.

Sales of telecommunications apparatus, computers, watches and jewellery declined between 10 and 14.7 per cent in August compared to the year before.

Sales of optical goods, books and food and beverages also fell, by about six per cent on year.

But medical goods, toiletries and supermarkets reported positive sales growth of between four and nine per cent.

Department stores, apparel and footwear and furniture and household equipment also reported marginal growth of 0.4 to one per cent over August 2008.

In the catering sector, receipts of food caterers and other eating places fell by seven to 16.5 per cent on year.

But turnover at restaurants and fast food outlets rose by four to six per cent.

Source : Channel NewsAsia – 15 Oct 2009