Singapore retail takings up 10.4%

• Retail sales in Singapore continued to climb in Oct 22, though at a slower year-on-year pace, as car sales extended their slump, according to figures released by the Department of Statistics.
• Total retail takings rose 10.4% y/y, easing from the revised 11.3% y/y growth in Sep 22.
• Excluding motor vehicles, retail sales rose by 14.3% y/y, compared with the revised 16.9% y/y growth in Sep 22.
• On a seasonally adjusted basis, retail sales edged up 0.1% in Oct 22, month on month. Excluding motor vehicles, sales grew by 0.8% m/m.
• Most industries recorded a year-on-year increase in sales in Oct 22, with the apparel and footwear industry seeing a 52.9% y/y jump, the second largest among all 14 industries. Food and alcohol sales took the top spot at 61% y/y.
• Meanwhile, sales of motor vehicles dropped 15.8% y/y in Oct 22, after a 20.2% y/y tumble in Sep 22, making it the biggest loser of the 14 industries.

External Link : https://www.straitstimes.com/business/singapore-retail-takings-up-104-in-october-though-car-sales-extend-slump