Singapore’s Sept retail sales up 1.7% year-on-year

Singapore‘s retail sales rose 1.7 percent from a year ago to S$2.30 billion due largely to increased sales at department stores and supermarkets, and higher spending on items such as clothes and footwear.

The Department of Statistics said on Wednesday that compared to August, sales were up a seasonally adjusted 0.9 percent in September.

Economists had expected the index to rise in September from August as a strong labour market fuelled spending on items such as new cars, although they said gains would be capped by slower visitor arrivals.

Excluding motor vehicles, which have a 34.5 percent weighting in the index, retail sales increased by 4.8 percent in September from a year earlier and on a seasonally-adjusted basis rose 1.4 percent from August, the department said in a statement.

Car sales fell 4.1 percent from a year earlier, after declining 3.3 percent in August.

Furniture and household equipment sales, which represent about 7.5 percent of the index, were slightly stronger in September, expanding 2.8 percent from a year earlier after growing 2.6 percent in August.

Sales at department stores rose 7.0 percent from the same month a year earlier while sales of watches and jewelry declined by 1.1 percent.

Apparel and footwear sales rose 8.8 percent from a year earlier.

Food and beverage sales rose 1.4 percent in September from a year earlier but fell 4.2 percent from August.

Source: Channel NewsAsia, 15 November 2006 

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