Festive season helps Singapore retail sales in February rebound 15.8%

SINGAPORE - Chinese New Year helped boost retailers' takings in February, with retail sales jumping 15.8 per cent compared to the same month a year ago, according to data released on Wednesday by the Department of Statistics.

Excluding motor vehicles, retail sales rose 14.8 per cent.

Seasonally adjusted, sales fell 3.3 per cent in February over the previous month. But excluding motor vehicles, retail sales remained unchanged month-on-month.

The total retail sales value in February 2015 was estimated at $3.4 billion, higher than the $3.0 billion in February 2014.

Retail15

Compared to February 2014, retail sales of food & beverages, department stores and supermarkets grew by 29.0 per cent to 66.6 per cent, arising from higher sales during the Chinese New Year period in February 2015.

Chinese New Year fell on January 31 in 2014 and February 19 this year.

Likewise, retail sales of motor vehicles, wearing apparel & footwear, furniture & household equipment, mini-marts & convenience stores and medical goods & toiletries increased between 10.0 per cent and 25.4 per cent.

Telecommunications apparatus & computers and watches & jewellery also reported higher retail sales of 6.1 per cent and 2.6 per cent respectively over the same period.

In contrast, retailers of petrol service stations reported a decline of 20.8% in sales in February 2015, partially due to lower petrol prices. Similarly, retail sales of recreational goods and optical goods & books decreased 6.3% and 5.0% respectively over February 2014.