SINGAPORE’S retail sales fell 1.2 per cent year on year in April, reversing from the 2.8 per cent growth posted in the month before, with most industries recording declines in sales.
April’s result was below estimates by private-sector economists, who expected retail sales to grow 1.9 per cent year on year in a Bloomberg poll.
On a month-on-month, seasonally adjusted basis, retail sales declined 2.7 per cent, extending from March’s downwardly revised 0.8 per cent fall, Department of Statistics data released on Wednesday (Jun 5) showed.
April’s total retail sales stood at S$3.9 billion. Online sales accounted for 11.8 per cent, compared with 12 per cent recorded in March.
Excluding motor vehicles, retail sales dropped 4.5 per cent from the year-earlier period, and posted a sequential fall – down 4 per cent on a month-on-month, seasonally adjusted basis.
Eleven of the 14 retail sales categories recorded year-on-year declines in April.
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On a month-on-month, seasonally adjusted basis, sales declined for 10 of the categories. Sales of wearing apparel and footwear recorded the largest fall of 16.2 per cent and also the largest sequential decline of 15.1 per cent.
Meanwhile, categories that recorded year-on-year growth were:
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Motor vehicles (25 per cent)
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Food and alcohol (4.7 per cent)
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Petrol service stations (3 per cent)
Sales of food and beverage (F&B) services rose 0.3 per cent year on year, extending the 4.9 per cent growth posted in March. It was down 0.9 per cent on a monthly seasonally adjusted basis, compared with the 3.1 per cent decline the previous month.
Food caterers’ sales jumped 21.3 per cent on the year, while cafes, food courts and other eating places had a 4 per cent year-on-year increase. On the other hand, turnover of restaurants and fast food outlets fell 7.5 per cent and 0.7 per cent, respectively, on the year.
On a month-on-month, seasonally adjusted basis, food caterers (12.8 per cent), fast food outlets (4.8 per cent), and cafes, food courts and other eating places (1.5 per cent) recorded increases. Restaurants posted a fall in sales of 8.8 per cent.
F&B services receipts amounted to S$931 million, with online sales accounting for an estimated 24 per cent of this sum.
