ePaper

Sunday, June 24, 2018

Singapore retail sales inch up 0.4% in April

  • Print

Singapore retail sales continued its lacklustre streak in April, ticking up marginally by 0.4 per cent compared to a year ago, dragged down by a sharp dip in computer & telecommunications equipment.

This followed March's 1.1 per cent drop in retail sales. Excluding motor vehicle sales, retail takings inched up 0.7 per cent in April, according to Singapore Department of Statistics data released on Tuesday, reports straitstimes.

Performance among the retail industries was a mixed bag, with the largest decline seen in computer & telecommunications equipment (-9.8 per cent), followed by apparel & footwear (-3.4 per cent), supermarkets & hypermarkets (-2.3 per cent) and department stores (-1.7 per cent).

The top performer in April was petrol service stations, which reported a sales growth of 8.5 per cent, due partly to higher petrol prices.

On a month-on-month basis, seasonally-adjusted retail sales fared even worse, decreasing by 0.2 per cent in April. Excluding motor vehicles, retail sales declined 1.7 per cent.

The total retail sales value in April 2018 was estimated at $3.6 billion, of which online sales accounted for about 4.4 per cent. The food & beverage services index was also awash in red in April, dipping 1.2 per cent compared to a year ago.

On a month-on-month basis, it fell by 3.4 per cent. The total sales value of food & beverage services in April 2018 was estimated at $662 million, lower than the $670 million in April 2017.

More News For this Category

Trump greets EU trade reprisals with threat of steep auto tariff

| By
President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 percent tariff on all US imports of European Union-assembled cars.
Trump greets EU trade reprisals with threat of steep auto tariff

Harley says EU duties could prompt price hikes

| By
Harley-Davidson Inc could be forced to raise prices in Europe due to EU tariffs on US goods, hitting buyers of new motorcycle models when they are shipped to
Harley says EU duties could prompt price hikes

Opec agrees ouput rise of about one million barrels: KSA

| By
Opec members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said
Opec agrees ouput rise of about  one million barrels: KSA

Xiaomi puts indefinite delay on CDRs

| By
Chinese smartphone maker Xiaomi Corp said on Saturday there is no time frame for a mainland share offering, casting doubt on Beijing's efforts to lure foreign-listed Chinese tech
Xiaomi puts indefinite delay on CDRs

Japan's inflation stays weak despite stimulus measures

| By Business Desk
Japan's core inflation remained subdued in May, yet again highlighting how far off the central bank is in hitting its 2 per cent price goal despite over five
Japan's inflation stays weak despite stimulus measures

German consumer prices 5% above EU average

| By Business Desk
The level of consumer prices in Germany is 5 percent above the European Union (EU) average, according to compiled figures published on Friday by the Federal Statistical Office.

SL's female labor force to boost economic growth: IMF

| By Business Desk
The International Monetary Fund (IMF) on Friday said raising Sri Lanka's female labor force participation can boost the island nation's economic growth in the long run.

China May gasoline exports up 134% at 1.47m tonnes

| By
China's gasoline exports in May surged from a year earlier, as state refiners sought to profit from good export margins and additional quota, customs data showed on Saturday.

Hong Kong has world's priciest office market: Survey

| By Business Desk
The rent is due, the rankings are out and it is another year at the top for Hong Kong, the most expensive office market in the world.

Trump threatens 20 percent tariff on all imported EU cars

| By Asian Age Online
US President Donald Trump threatened Friday to impose a 20 percent tariff on cars imported from the European Union, after the bloc's additional tariffs on
Trump threatens 20 percent tariff on all imported EU cars

© 2018 The Asian Age