Singapore sees retail sales down 1 pct in May

BY  | FROM  | 2017-07-12 16:22

Singapore's retail sales decreased 1 percent month-on-month on a seasonally adjusted basis in May, compared to a 1.7-percent increase in April, the Department of Statistics of Singapore said on Wednesday.
Excluding motor vehicles, the retail sales declined 3 percent month-on-month in May, compared to a 4.5-percent increase in April.
As for year-on-year changes, the retail sales grew 0.9 percent in May, compared to a 2.7-percent growth in April; and the retail sales excluding motor vehicles went up 0.6 percent in May, compared to a 5-percent increase in April.
According to the department, the total retail sales value in May was estimated at 3.7 billion Singapore dollars (about 2.68 billion U.S. dollars), similar to May 2016.
Meanwhile, the sales of food and beverage services dropped 0.2 percent month-on-month or 3.6 percent year-on-year in May. The sales value was estimated at 689 million Singapore dollars (about 499.11 million U.S. dollars), lower than the 715 million Singapore dollars (about 517.95 million U.S. dollars) in May 2016.

    Related News

      Financial Times

    • Fed fears market misreading of guidance
    • The US Federal Reserve is keen to revamp its forward guidance about future interest rates but terrified of a market misunderstanding, according to the minutes of its September meeting

      Reuters

    • Asian shares rebound after Fed renews dovish credentials
    • Asian shares bounced back and the dollar fell on Thursday after minutes of the U.S. Federal Reserve's latest policy meeting showed policymakers have some concerns about downside risks to the global economy and the dol...

      USA TODAY

    • Nigeria succeeds at containing Ebola
    • People here are shaking hands again, kissing, hugging, touching. These days, shops are open, people are working, and children are finally going back to 
      school
    Chinese Dictionary: