Singapore’s retail sales slump 6.0% in December

All segments in the index including motor vehicle sales and computer and telecommunications equipment fell except for medical goods and toiletries and other retail items.

A mall in Singapore Source: Bloomberg

Retail sales in Singapore fell by 6.0% on a year-on-year basis in December, worsening from the 2.4% decline in the previous month as sales from all segments in the index including motor vehicle sales and computer and telecommunications equipment fell except for medical goods and toiletries and other retail items.

Total receipts reached around S$4.3 billion in December, with online retail sales contributing about 5.5%. Excluding motor sales, retail sales fell by 4.1%, the Department of Statistics Singapore said on Tuesday.

The biggest drag came from motor vehicle sales which plunged by 20.7%, following the 15.1% decline in the previous month.

Petrol service stations saw sales fall by 0.4%, reversing from the 3.1% gain in November. Sales of computer and telecommunications equipment declined 16.8% due to a high base effect from a year ago which had registered higher sales arising from major phone launches around the same period.

Sales of recreational goods, watches and jewellery, and furniture and household equipment industries decreased between 3.9% and 5.8%, attributed to lower demand for sporting goods, jewellery and furniture.

The medical goods and toiletries segment saw sales increase by 1.8% while other retail items rose in sales by 0.5% for last month.

Food and beverage services' receipts up 4.5%

Receipts of food and beverage services increased by 4.5% in December from a year ago, with total receipts at around S$925 million, higher than S$886 million in December 2017.

For that month, all segments in the index rose. Restaurants, food caterers, fast food outlets, and other eateries (for example, cafes) saw increased sales compared to a year ago, up by 5.0%, 6.6%, 5.9%, and 2.5%, respectively.

Compared to the previous month, seasonally-adjusted retail sales fell by 3.4%, while food and beverage services rose by 0.6%.

See an opportunity to trade?

Go long or short on more than 15,000 markets with IG.

Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.

Related articles

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.