Motor vehicle sales fuel 0.6% YoY rise in retail sales for August

Excluding motor vehicles, sales dipped by 1.5% YoY.

Retail sales rose by 0.6% YoY and 0.7% MoM in August, translating to a sales value of $4.1b.

Of the total sales value, 12.1% was from online sales.

Excluding motor vehicles, overall sales dipped 1.5% compared to the previous year but increased 2.0% from July.

Motor vehicle sales increased 17.0% YoY but fell 6.9% MoM.

The Department of Statistics Singapore (SingStat) attributed the overall decline in retail sales to YoY decreases in most industries, led by Wearing Apparel & Footwear (-6.7% YoY) and Department Stores (-6.2% YoY).

Other industries which recorded YoY declines were Petrol Service Stations (-5.1%), Recreational Goods (-2.5%), Optical Goods & Books (-3.7%), Other Industries (-6.8%), Mini-marts & Convenience Stores (-0.7%), Furniture & Household Equipment (-0.6% ), and Computer & Telecommunications Equipment (-3.6%).

The only industries that recorded year-on-year increases, apart from motor vehicles, were Supermarkets & Hypermarkets (2.2%), Food & Alcohol (8.1%), Cosmetics, Toiletries & Medical Goods (3.1%), and Watches & Jewellery (1.8%).