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. Continue reading
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