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Retail sales rise 8.4% YoY in February

Excluding motor vehicles, sales would have risen by 9.4% YoY.

Retail sales rose by 8.4 YoY and 3.0% MoM in February, translating to a sales value of $3.9b.

Of the total sales value, 10.9% was from online sales.

Excluding motor vehicles, which saw a 1.5% YoY and 12.5% MoM increase, sales would have risen by 9.4% YoY and 1.8% MoM.

The Department of Statistics Singapore (Singstat) said most industries recorded a YoY increase in sales, resulting in an overall increase in retail sales. 

Food & Alcohol led the industries which posted sales increase in February, with a 31.4% YoY improvement.

Other industries which recorded sales increase were Department Stores (6.8% YoY); Cosmetics, Toiletries & Medical Goods (9.4% YoY); Recreational Goods (5.8% YoY); Supermarkets and Hypermarkets (19.2% YoY); Wearing Apparel & Footwear (13.2% YoY); Watches & Jewellery (16.8% YoY); Mini-marts & Convenience Stores (6.4% YoY);  and Petrol Service Stations (5.4% YoY).

On the other hand, Optical Goods & Books 9.3% YoY) and Computer & Telecommunications Equipment (7.7% YoY) recorded an increase in sales.

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