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.