Singapore Retail Sales Rise 2.3%

(RTTNews) - Singapore's retail sales increased for the fourth straight month in June, preliminary data from the Department of Statistics showed on Tuesday.

Retail sales rose 2.3 percent year-on-year in June, faster than the 1.3 percent gain in May.

The acceleration in growth was mainly driven by a 14.6 percent surge in sales of motor vehicles. Sales excluding motor vehicles rose 0.4 percent from last year versus a stagnant change in the prior month.

Demand for computer and telecommunications equipment alone grew 7.3 percent, and sales of recreational goods rose by 5.6 percent. Data showed that sales at supermarkets and hypermarkets grew 1.3 percent.

Meanwhile, sales at department stores fell 0.2 percent, and those at petrol service stations contracted 5.9 percent.

During June, the online sales proportion was 13.6 percent of the overall retail sales, higher than the 12.3 percent recorded a month ago.

The index for food and beverage services grew 0.1 percent year-on-year in June, following a 1.0 percent growth in the prior month.

On a monthly basis, retail sales decreased 1.2 percent in June compared to a 1.0 percent increase in May.