Singapore's Retail Sales Grow 13 Pct In August

SINGAPORE,Oct 5 (UrduPoint / Pakistan Point News - 5th Oct, 2022 ) :Singapore's retail sales grew by 13 percent year-on-year in August, compared to 13.9 percent in the previous month, the Department of Statistics (DOS) said on Wednesday.

Excluding motor vehicles, retail sales gained 16.2 percent in August, compared to 18.4 percent in July.

The year-on-year increase in retail sales was partly attributed to larger growths in the wearing apparel and footwear industry, food and alcohol industry, and department stores industry, the DOS said.

On a seasonally adjusted basis, Singapore's retail sales decreased by 1.3 percent in August over the previous month. In July, the retail sales edged up 0.7 percent month-on-month.

The estimated total value of retail sales in August was about 3.8 billion Singapore Dollars (about 2.67 billion U.S. dollars). Of these, online retail sales made up an estimated 12.5 percent, compared to 12.6 percent in July 2022.