Singapore Retail Sales Growth Eases To 1.1%

(RTTNews) - Singapore's retail sales growth eased further at the end of the second quarter, data from the Department of Statistics showed on Friday.

Retail sales climbed 1.1 percent year-over-year in June, slower than the 1.8 percent gain in May.

Excluding motor vehicles, retail sales also grew 2.5 percent annually in June after a 1.7 percent increase in the preceding month.

In June, most industries recorded annual increases. Sales of food and alcohol grew the most, by 30.7 percent from a year ago, mainly driven by higher demand for alcoholic products.

Similarly, sales of computer and telecommunications equipment, optical goods, and books increased by 9.4 percent and 8.7 percent, respectively.

Meanwhile, sales at petrol service stations plunged 24.2 percent annually in June, and sales of motor vehicles alone slipped by 8.4 percent.

Data showed that the online sales proportion was 12.7 percent of the overall retail sales in June.

On a monthly basis, retail sales declined a seasonally adjusted 0.8 percent in June after falling 0.2 percent in the prior month.

The index for food and beverage services alone grew 8.5 percent year-on-year in June, following a 15.3 percent rise in the prior month.