Retail sales in Singapore for the month of May have clocked in a slight increase of 0.9 percent compared to a year ago, but overall figures have weakened from the preceding month.
According to the latest data released by the Department of Statistics, total retail sales for the month went down 1 percent month-on-month (MoM). Without car sales, growth would have sunk further to a decline of 3 percent.
Car sales, which is hugely being affected by the supply of certificate of entitlement, went up by 2 percent year-on-year (YoY) and by 8 percent MoM.
In terms of the strongest YoY growth, the petrol services stations recorded robust sales growth at 11.3 percent. On a MoM basis, however, petrol sales went down 4.7 percent. Sales of medical goods and toiletries reflected the next strongest YoY growth at 4.5 percent.
The lackluster figure for the said month may have been due to food retailers sales, which registered the biggest YoY decline at 5.2 percent. Clothes and footwear sales got the second biggest YoY decline at 4.5 percent.
The 1 percent sales drop in sales compared to the preceding month is due to nine of the sectors recording a slump in turnouts. The biggest decline was seen in clothes sales at 10.5 percent. Recreational goods also ended the month with a 9 percent decline in sales.
Overall, the total retail sales value in May was estimated at S$3.7b, similar from last year.
In terms of the food and services sector, yields went down 0.2% MoM and 3.6% YoY. Restaurants' 9.5% decrease in sales was the primary reason for the YoY drop in overall turnover.
Total sales value of the said sector was estimated at S$689m, lower than the S$715m last year.
