SINGAPORE – Retail sales in Singapore remained in positive territory in May, though the pace of growth slowed and spending weakened from the previous month.
Takings at the till rose 3 per cent year on year, extending April’s 5.4 per cent increase, according to data released by the Singapore Department of Statistics (SingStat) on July 6.
Excluding motor vehicles, parts and accessories, retail sales grew 3.7 per cent year on year, moderating from the 4.5 per cent increase recorded in April.
On a month-on-month basis, retail sales in May were weaker than in April, falling 2.3 per cent after accounting for seasonal factors. Excluding motor vehicles, parts and accessories, May sales declined 1.8 per cent from April.
The estimated total retail sales value in May stood at $4.5 billion. Online transactions accounted for 15.1 per cent of total retail sales, up from 14.7 per cent in April.
Most retail industries posted year-on-year growth, led by recreational goods, where sales jumped 23.6 per cent. Watch and jewellery sales rose 11.7 per cent, while petrol service stations recorded a 9.5 per cent increase, mainly due to higher petrol prices.
In contrast, sales at food and alcohol retailers fell 3.7 per cent, while department stores recorded a 3.3 per cent decline in sales from a year earlier.
Month on month, however, most retail industries recorded weaker sales. Wearing apparel and footwear posted the steepest decline at 4.9 per cent, followed by motor vehicles, parts and accessories at 4.8 per cent, and food and alcohol retailers at 4.6 per cent.
Recreational goods bucked the trend with an 11.6 per cent jump from April, and furniture and household equipment sales climbed 3.2 per cent.
Meanwhile, food and beverage (F&B) services were flat compared with a year ago, after edging up 0.1 per cent in April. On a seasonally adjusted basis, sales dipped 0.6 per cent from the previous month.
Total F&B sales were estimated at $1.7 billion in May, with online transactions accounting for 19.8 per cent of sales, slightly lower than the 19.9 per cent recorded in April.
Within the sector, fast-food outlets recorded the strongest year-on-year growth at 2.6 per cent, followed by food caterers at 1.9 per cent and restaurants at 1.8 per cent. Cafes, and foodcourts and other eating places saw sales fall 0.5 per cent and 5.3 per cent respectively.
On a month-on-month basis, fast-food outlets and food caterers recorded declines of 3.7 per cent and 2.8 per cent respectively, while restaurant sales edged up 0.3 per cent and cafes rose 1.2 per cent.
