Singapore Retail Sales Rise 1.4%

(RTTNews) - Singapore's retail sales increased for the third straight month in May, preliminary data from the Department of Statistics showed on Friday.

Retail sales rose 1.4 percent year-on-year in May, faster than the 0.2 percent gain in April.

The acceleration in growth was mainly driven by a 10.4 percent surge in sales of motor vehicles. Sales excluding motor vehicles remained flat from last year versus a 0.8 percent increase in the prior month.

Demand for computer and telecommunications equipment alone grew 9.2 percent, and sales of recreational goods rose by 7.0 percent. Data showed that sales at supermarkets and hypermarkets grew 7.2 percent.

Meanwhile, sales at department stores fell 3.9 percent, and those at petrol service stations contracted 9.4 percent.

During May, the online sales proportion was 12.3 percent of the overall retail sales, lower than the 12.7 percent recorded a month ago.

The index for food and beverage services grew 1.4 percent year-on-year in May, faster than the 1.3 percent growth in the prior month.

On a monthly basis, retail sales climbed 1.0 percent in May compared to a stagnant change in April.