, Singapore

Retail sales up 10.4% in October

The estimated total retail sales value was $4b.

Retail sales went up  10.4% year-on-year in October 2022, moderating from 11.3% increase in September 2022, Department of Statistics reported.

Without motor vehicle sales, retail sales grew 4.3% from 16.9% increase in September 2022.

On a seasonally adjusted basis, retail sales soared 0.1% in October 2022 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales went up by 0.8% month-on-month.

The retail sales value in October was $4b, of which, 13% are from online retail sales compared to almost 14% in September.

Excluding motor vehicles, the total retail sales was worth about $3.6b. Of the number, 14.5% came from online retail sales.

Online retail sales of the computer and telecommunications equipment, furniture and household equipment, and supermarkets and hypermarkets industries, which made up 47.1%, 28.9%, and 14% of the total sales of their respective industry.

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