logo
  

Singapore Retail Sales Growth Eases Slightly In August

Singapore's retail sales growth slowed marginally in August, data from the Department of Statistics showed on Wednesday.

Retail sales rose 13.0 percent year-on-year in August, after a 13.9 percent growth in July.

Excluding motor vehicles, retail sales grew 16.2 percent yearly in August, after an 18.4 percent gain in the preceding month.

Sales of wearing apparel and footwear grew the most, by 64.7 percent in August from a year ago. Sales of food and alcohol surged 48.5 percent.

Sales at department stores rose 42.8 percent and those of watches and jewelry gained 31.2 percent.

On a monthly basis, retail sales fell a seasonally adjusted 1.3 percent in August, reversing a 0.7 percent increase in the prior month.

Sales of food & beverage services surged 40.2 percent year-on-year in August following a 41.9 percent jump in July.

The significant growth in F&B sales in August 2022 was mainly attributed to the low base in August 2021, when there were stricter restrictions on dining-in at F&B establishments.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Juul Labs, an e-cigarette maker, said it has reached settlements with more than 5,000 vaping lawsuits in the United States. The cases were related to personal injury, consumer class action, government entity, and Native American tribes. In a statement, the company said it cannot disclose the settlement amount at this time as part of the settlement and court process. Apple Inc. plans to start using American-made processors from the new advanced chip factory in Phoenix, Arizona operated by chip giant Taiwan Semiconductor Manufacturing Co., according to its Chief Executive Officer Tim Cook. At an event in the factory in Arizona, which was attended by U.S. President Joe Biden, it was also announced that TSMC will invest $40 billion in the new factory. Lidl US has recalled its 8.4 oz Favorina branded Advent Calendar, i.e., Premium Chocolate with a Creamy Filling, citing potential Salmonella contamination, the U.S. Food and Drug Administration said. The products were available for sale at Lidl stores between October 12, 2022 and December 5, 2022. They will have a BEST IF USED BY year of 2023, and barcode number of 4056489516965.
Follow RTT