Retail sales slid 5.5% in December 2013

Blame it on bad motor vehicles sales.

According to SingStat, retail sales (seasonally adjusted) increased 2.3% in December 2013, compared to November 2013. Excluding motor vehicles, retail sales decreased marginally by 0.1%.

Compared to December 2012, retail sales declined 5.5% in December 2013, mainly due to lower motor vehicles sales. Excluding motor vehicles, retail sales went up 0.3%.

After seasonal adjustment, retailers of motor vehicles and medical goods & toiletries reported sales increases of 17.4% and 7.5% respectively in December 2013 over November 2013. Retail sales of telecommunications apparatus & computers, supermarkets and food & beverages also went up between 0.2% to 2.1%.

On the other hand, retailers of recreational goods, watches & jewellery and optical goods & books recorded sales declines of between 3.2% and 5.9% in December 2013 over the previous month. Retail sales of furniture & household equipment, wearing apparel & footwear, department stores, provision & sundry shops and petrol service stations also decreased between 0.2% to 1.7%.

Compared to December 2012, retailers of motor vehicles reported a decline of 32.0% in sales in December 2013. Similarly, retail sales of watches & jewellery, telecommunications apparatus & computers, furniture & household equipment and recreational goods decreased between 1.1% and 6.3% over the same period.

In contrast, retail sales of medical goods & toiletries, petrol service stations, department stores, optical goods & books, supermarkets, provision & sundry shops and wearing apparel & footwear increased between 1.0% and 8.4% in December 2013 over December 2012.

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