Singapore retail sales growth slows to 1.5 pct year-on-year in July

SINGAPORE, Sept. 7 (Xinhua) -- Singapore's retail sales growth moderated to 1.5 percent year-on-year in July, from 4 percent in June, the Department of Statistics said on Monday.

People visit the iconic tourist attraction Merlion Park in Singapore on April 7, 2022. (Photo by Then Chih Wey/Xinhua)

On a seasonally adjusted month-on-month basis, retail sales increased 0.9 percent in July, it said in a statement.

Total retail sales were estimated at 4.4 billion Singapore dollars (3.47 billion U.S. dollars), with online sales accounting for 15.4 percent, down from 16.4 percent in June.

Recreational goods led growth among retail industries, with sales rising 13.9 percent year-on-year, followed by watches and jewelry at 11.1 percent, mainly on higher sporting goods and jewelry sales.

Sales of computer and telecommunications equipment increased 5.1 percent.

However, food and alcohol sales fell 5.1 percent, while department store sales declined 3.5 percent year-on-year.