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Financial News: Singapore Retail Sales Accelerate In October

Singapore Retail Sales Accelerate In October

12/03/2021 - 04:04:00 (RTTNews)

(RTTNews) - Singapore retail sales grew in October, data from the Department of Statistics showed on Friday.

Retail sales grew 7.5 percent year-on-year in October, after a 6.8 percent rise in September.

Motor vehicle sales declined 13.1 percent annually in October, following a 2.0 percent fall in the previous month.

Excluding motor vehicles, retail sales gained 11.4 percent yearly in October, following a 8.5 percent rise in the preceding month.

Sales of computer and telecommunications equipment gained 72.9 percent and those of petrol service stations rose 16.3 percent. Sales of watchers and jewelry, and food and alcohol increased by 26.9 percent and 7.6 percent, respectively.

Sales of cosmetics, toiletries and medical goods, and wearing apparels and footwear rose by 9.1 percent and 5.5 percent, respectively.

On a monthly basis, retail sales rose 0.7 percent in October, after a 6.1 percent growth in the prior month.

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