Jul 16, 2015

    Car sales boost May retail data

    A WHOPPING 46.6 per cent rise in motor vehicle sales boosted Singapore's retail sales in May, which rose 6.1 per cent over the same period last year, according to data released by the Department of Statistics yesterday.

    This coincided with the Land Transport Authority releasing a bumper crop of certificates of entitlement for the May-to-July period.

    Excluding the exuberant car sales, retail sales would have increased a far more modest 0.9 per cent.

    Total retail sales value in May was estimated at $3.5 billion, higher than $3.3 billion for May last year.

    The high double-digit surge in motor vehicle sales helped to offset poorer performance in areas such as petrol service stations (-16.2 per cent), recreational goods (-11.9 per cent) and optical goods & books (-8.3 per cent).

    In contrast, retail sales of medical goods & toiletries were up 10.3 per cent, those of department stores rose 4.9 per cent, and supermarkets had a 3.6 per cent increase.

    On a seasonally-adjusted basis, retail sales rose 2.4 per cent in May over April. Excluding motor vehicles, retail sales grew 1.8 per cent.