CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Singapore’s retail sales up 0.1% in October

Total receipts reached around S$3.7 billion in October, with online retail sales contributing about 5.3%.

IG Analyst

Publication date : 2020-08-14T14:45:15+0100

Ion Orchard, Singapore

Retail sales in Singapore inched up slightly by 0.1% on a year-on-year basis in October, easing from the previous month’s 1.9% growth as a robust sales performance from petrol service stations was offset by sluggish sales seen in department stores, supermarkets and hypermarkets, and motor vehicles.

Total receipts reached around S$3.7 billion in October, with online retail sales contributing about 5.3%. Excluding motor sales, retail sales grew by 0.5%, the Department of Statistics Singapore said on Wednesday.

Petrol service stations saw sales increase by 11.4% in October due to the ongoing high petrol prices. The medical goods and toiletries segment saw sales increase by 3.4%, helped by higher sales of cosmetics and toiletries.

Meanwhile, segments such as supermarkets and hypermarkets, department stores, motor vehicles, as well as optical goods and books registered slower sales compared to a year ago.

Food and beverage services' receipts up 1.1%

Receipts of food and beverage services increased by 1.1% in October from a year ago, with total receipts at around S$710 million, higher than S$703 million in October 2017.

For that month, food caterers, fast food outlets and other eateries (for example, cafes) saw increased sales compared to a year ago, up by 5.6%, 3.2%, and 3.8%, respectively. Only restaurants registered a fall in sales by 3.0%.

Compared to the previous month, seasonally-adjusted retail sales were down by 0.4%, while food and beverage services were lower by 0.7%.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Disclaimer:

All forms of investments carry risks and trading CFDs may not be suitable for everyone. CFDs are leveraged instruments and can result in losses that exceed deposits, so please ensure that you fully understand, and are aware of, the risks and costs involved. Refer to the Risk Disclosure Statement and Risk Fact Sheet.

IG Asia Pte Ltd (Co.Reg.No. 200510021K) is regulated by the Monetary Authority of Singapore and holds a capital markets services licence for dealing in capital markets products that are over-the-counter derivatives contracts and is an exempt financial adviser.

IG provides an execution-only service. The information in this advertisement does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. You should consider your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

This advertisement has not been reviewed by the Monetary Authority of Singapore.