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Singapore sees retail sales down 1 percent in May

Staff Writer |
Singapore's retail sales decreased 1 percent month-on-month on a seasonally adjusted basis in May, compared to a 1.7-percent increase in April, the Department of Statistics of Singapore said on Wednesday.

Excluding motor vehicles, the retail sales declined 3 percent month-on-month in May, compared to a 4.5-percent increase in April.

As for year-on-year changes, the retail sales grew 0.9 percent in May, compared to a 2.7-percent growth in April; and the retail sales excluding motor vehicles went up 0.6 percent in May, compared to a 5-percent increase in April.

According to the department, the total retail sales value in May was estimated at 3.7 billion Singapore dollars (about 2.68 billion), similar to May 2016.

Meanwhile, the sales of food and beverage services dropped 0.2 percent month-on-month or 3.6 percent year-on-year in May.

The sales value was estimated at 689 million Singapore dollars ($499.11 million), lower than the 715 million Singapore dollars ($517.95 million) in May 2016.