Singapore Retail Sales Growth Eases Slightly In August

(RTTNews) - Singapore's retail sales growth slowed marginally in August, data from the Department of Statistics showed on Wednesday.

Retail sales rose 13.0 percent year-on-year in August, after a 13.9 percent growth in July.

Excluding motor vehicles, retail sales grew 16.2 percent yearly in August, after an 18.4 percent gain in the preceding month.

Sales of wearing apparel and footwear grew the most, by 64.7 percent in August from a year ago. Sales of food and alcohol surged 48.5 percent.

Sales at department stores rose 42.8 percent and those of watches and jewelry gained 31.2 percent.

On a monthly basis, retail sales fell a seasonally adjusted 1.3 percent in August, reversing a 0.7 percent increase in the prior month.

Sales of food & beverage services surged 40.2 percent year-on-year in August following a 41.9 percent jump in July.

The significant growth in F&B sales in August 2022 was mainly attributed to the low base in August 2021, when there were stricter restrictions on dining-in at F&B establishments.