Retail sales in Singapore up 5.5% in July

Retail sales in Singapore have gone up by 5.5 per cent in July compared to the same time last year, driven largely by the sales of motor vehicles, said the Department of Statistics on Monday. -- PHOTO: ST FILE
Retail sales in Singapore have gone up by 5.5 per cent in July compared to the same time last year, driven largely by the sales of motor vehicles, said the Department of Statistics on Monday. -- PHOTO: ST FILE

SINGAPORE - Retail sales in Singapore have gone up by 5.5 per cent in July compared to the same time last year, driven largely by the sales of motor vehicles, said the Department of Statistics on Monday.

Excluding motor vehicles, retail sales fell 0.4 per cent in July, down from that of last July.

Retailers of motor vehicles recorded a sales increase of 41 per cent in July over that of July 2013. This was due in part to lower sales of motor vehicles then, as the temporary lifting of loan restrictions on the purchase of pre-existing stock of used cars came to an end.

The total retail sales value for July this year was estimated at $3.2 billion, higher than the $3 billion from July 2013.

Sales of food and beverage (F&B) services, on the other hand, fell 1.6 per cent in July this year, compared to that of last year.

The total sales value of F&B services in July was estimated at $627 million, a drop from the $637 million in July last year.