Singapore Retail Sales Rebound In September

Singapore's retail sales grew in September after declining in the previous two months, preliminary data from Statistics Singapore showed on Monday.

Retail sales at current prices rose 1.9 percent year-on-year following a 0.4 percent decline in August and a 2.6 percent slump in July. In June, sales grew 1.9 percent.

Excluding automobiles, retail sales increased 1.8 percent year-on-year after a 2.4 percent increase in August.

Automobile sales grew 2.5 percent year-on-year following declines in the previous two months.

Sales at petrol service stations registered the biggest gain of 11.4 percent in September followed by watches and jewelry, sales of which increased 7.4 percent.

Food store sales grew 2.5 percent. In contrast, sales of computer and telecommunication equipment continued to fall, down 5.8 percent. Sales of optical goods and books dropped 3.1 percent.

On a month-on-month basis, retail sales decreased a seasonally adjusted 0.4 percent at current prices in September after a 2.4 percent increase in August.

News are provided by InstaForex