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Singapore’s retail sales rise 5.2% on year in July

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/09/2015 (13:53)
According to data released by Singapore’s Department of Statistics, the country’s retail sales rose 5.2% on the year to reach SGD3.5 billion ($2.50 billion), up from SGD3 billion ($2.140 billion) reported in the same month of 2014. A 40.6% increase in motor vehicle sales was cited as the main reason behind stronger sales in July. On a monthly basis, however, Singapore’s retail sales slipped 2.2% in July.

The data showed that motor vehicle sales were followed by watches and jewelry sales which increased 11.7% while sales in medical goods posted an increase of 9.9% in July compared with the same month of the preceding year.

However, sales in petrol service stations recorded the largest decrease in July, decreasing by 16.4% from a year earlier. Retail sales for furniture and household equipment as well as food and beverage services also declined 5.5% and 1% on the year, respectively in July.
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