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Singapore September retail sales up 7.2% on year
14/11/2008 17:03

Singapore's retail sales rose to 2.9 billion Singapore dollars (about US$1.93 billion) in September, up 7.2 percent over a year ago, government figures showed today.

But after seasonal adjustment, September's retail sales fell 1 percent from August, due to lower sales of petrol and goods such as apparel and watches, according to the figures released by Singapore's Department of Statistics.

Excluding motor vehicles, September's retail sales rose 8.4 percent over a year ago. The volume of retail sales rose 2.8 percent after accounting for price changes.

Data showed that most retail segments reported higher sales over a year ago. Vehicle sales in September rose 4.6 percent while sales of department stores, supermarkets and gas stations rose more than 10 percent.

Experts said the unexpected acceleration in retail sales in September was thanks to Singapore's first Formula One night race on Sept. 28, luring more tourists and customers.



Xinhua