Published:  12:43 AM, 13 June 2018

Singapore retail sales inch up 0.4% in April

Singapore retail sales inch up 0.4% in April Shoppers at ION Orchard. Singapore retail sales rose marginally by 0.4 per cent compared to a year ago, following March's 1.1 per cent drop. -ST

Singapore retail sales continued its lacklustre streak in April, ticking up marginally by 0.4 per cent compared to a year ago, dragged down by a sharp dip in computer & telecommunications equipment.

This followed March's 1.1 per cent drop in retail sales. Excluding motor vehicle sales, retail takings inched up 0.7 per cent in April, according to Singapore Department of Statistics data released on Tuesday, reports straitstimes.

Performance among the retail industries was a mixed bag, with the largest decline seen in computer & telecommunications equipment (-9.8 per cent), followed by apparel & footwear (-3.4 per cent), supermarkets & hypermarkets (-2.3 per cent) and department stores (-1.7 per cent).

The top performer in April was petrol service stations, which reported a sales growth of 8.5 per cent, due partly to higher petrol prices.

On a month-on-month basis, seasonally-adjusted retail sales fared even worse, decreasing by 0.2 per cent in April. Excluding motor vehicles, retail sales declined 1.7 per cent.

The total retail sales value in April 2018 was estimated at $3.6 billion, of which online sales accounted for about 4.4 per cent. The food & beverage services index was also awash in red in April, dipping 1.2 per cent compared to a year ago.

On a month-on-month basis, it fell by 3.4 per cent. The total sales value of food & beverage services in April 2018 was estimated at $662 million, lower than the $670 million in April 2017.

Leave Your Comments



Latest News


More From Global Business

Go to Home Page »

Site Index The Asian Age