Singapore's retail sales increased 2.9 percent in December on a year-on-year basis, mainly due to retail sales of motor vehicles, said the Department of Statistics Singapore (SingStat) on Monday.
On a month-on-month basis, retail sales decreased 2.1 percent in December 2015, SingStat added. Excluding motor vehicles, retail sales decreased 3.6 percent. The total retail sales value in December was estimated at 4.1 billion Singapore dollars (2.93 billion U.S. dollars), higher than 4 billion Singapore dollars in December 2014.
Sales of food and beverage services decreased 1.8 percent in December 2015 over the previous month. Compared to the same period in 2014, sales of food and beverage services declined 5.7 percent in December 2015.
The total sales value of food and beverage services in December 2015 was estimated at 665 million Singapore dollars, lower than the 705 million Singapore dollars in the same period of 2014.
The Retail Sales Index and the Food and Beverage Services Index measure the short-term performance of retail and Food and Beverage service industries based on their sales records. The sales figures exclude taxes.
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