Retail sales rise 5.3% in November, reversing slump in October

Retail takings also rose on a month-on-month basis, going up by 5.1 per cent.
Retail takings also rose on a month-on-month basis, going up by 5.1 per cent.PHOTO: ST FILE

SINGAPORE - Retail sales surged in November, reversing course from the slump in October.

Total takings grew 5.3 per cent in November from the same month a year ago, according to latest data by the Singapore Department of Statistics. This is in contrast to the 0.2 per cent drop recorded in October, revised lower from earlier estimates of a 0.1 per cent dip. Sales also fell 0.6 per cent in September.

With motor vehicles stripped out, retail sales also grew 4.7 per cent year on year.

Retail takings also rose on a month-on-month basis, going up by 5.1 per cent. Excluding car sales, they also grew a respectable 2.9 per cent.

The best-performing category was computers and telecommunications equipment, going up by 16.6 per cent from a year ago. This was followed by supermarkets at 9.7 per cent and petrol service station sales at 9.6 per cent.

The worst performing category was optical goods and books, with a decline of 4.2 per cent.

On a month-on-month basis, the stellar performance of computers and telecommunications equipment was even more stark, jumping 46.5 per cent compared with October. The poorest performing category was watches and jewellery, with a decline of 3.6 per cent.

Sales of food and beverage services grew 2.1 per cent year on year, but still dipped 0.1 per cent from October.