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Financial News: Singapore Retail Sales Decline In September

Singapore Retail Sales Decline In September

11/05/2020 - 01:34:00 (RTTNews)

(RTTNews) - Singapore retail sales declined at a faster rate in September, data from the Department of Statistics showed on Thursday.

Retail sales declined 10.8 percent year-on-year in September, following a 5.4 percent fall in August.

Motor vehicle sales rose 0.2 percent annually in September, after a 12.1 percent growth in the previous month.

Excluding motor vehicles, retail sales fell 12.7 percent in September, following an 8.2 percent decrease in the preceding month.

Sales of food and alcohol decreased 41.0 percent yearly in September and those in department stores declined 39.8 percent.

Sales of cosmetics, toiletries and medical goods, and wearing apparels and footwear fell by 30.0 percent and 28.4 percent, respectively.

In September, sales of computer and telecommunications equipment, optical goods and books, petrol service stations, watches and jewelry, and others declined.

On a monthly basis, retail sales fell 4.5 percent in September, after a 1.8 percent increase in the prior month.

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