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Singapore retail sales up 3.5% YOY in August

Singapore's total retail sales in August grew 3.5% year over year to S$3.7 billion, with most sectors posting positive results, according to the city-state's Department of Statistics.

On a seasonally adjusted basis, total retail sales edged down 0.3% from the previous month. Excluding motor vehicles, retail sales in August grew 3.7% year over year but fell 1.2% on a month-to-month basis.

Gas stations saw the highest year-over-year increase in August sales, rising 9.5%. That was followed by recreational goods, which rose 8.3%. Sales also increased 7.6% for medical goods and toiletries, 6.3% for supermarkets, 6.1% for apparel and footwear, and 4.3% for department stores.

The optical goods and books category marked the largest drop in sales, with a 4.1% year-over-year decline in August. Sales also decreased 2.1% for food retailers, 1.1% for mini-marts and convenience stores, and 0.4% for watches and jewelry.

Meanwhile, sales of food and beverage services during the month increased 3.7% year over year to S$729 million, or 1.9% on a month-on-month basis.

As of Oct. 12, US$1 was equivalent to S$1.35.