Ka-ching: Retail sales bounce back

Which sectors led the across-the-board growth in October?

Strong sales of mobile phones, computers and cars headlined the 6.1% month-on-month growth in October from September 2011.

"Excluding motor vehicles, retail sales rose 4.0%," says the Department of Statistics in the latest Retail Sales Index.
Of the 14 sectors included in the index (excl. motor vehicles), only the Provision & Sundry Shops shrunk in sales month-on-month.

"After seasonal adjustment, retailers of telecommunications apparatus & computers and motor vehicles recorded higher sales of 14.9% and 13.5% respectively in October 2011 compared to the previous month," says the Satistics department.

"Retail sales of food & beverages, recreational goods, watches & jewellery, wearing apparel & footwear, supermarkets, department stores, optical goods & books and petrol service stations increased between 2.9% and 6.3%," it added.

Year-on-year growth also posted a solid showing.

"Compared to October 2010, retailers of telecommunications apparatus & computers recorded an increase in sales of 23.7% in October 2011 (Table 3). Similarly, petrol service stations and retailers of watches & jewellery recorded double-digit growth in sales of 18.0% and 16.4% respectively in October 2011. Retail sales of department stores, medical goods & toiletries, motor vehicles, food & beverages, recreational goods, wearing apparel & footwear, furniture & household equipment, provision & sundry shops and supermarkets increased between 2.0% and 9.0%," says the Statistics department."

On the other hand, retailers of optical goods & books reported a 6.3% decline in sales in October 2011 over October 2010," it said further.

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Tags: retail sales October 2011, retail sales growth October 2011, Department of Statistics Retail Sales Index report October 2011