Singapore: Singapore’s retail sales increased by 1.4 percent in May compared to the same period last year, following a 0.2 percent rise in April. This information was released by the Singapore Department of Statistics, highlighting a steady growth pattern in the retail sector.
According to Namibia Press Agency, the seasonally adjusted figures showed a 1.0 percent increase in retail sales from the previous month. The total retail sales for May were estimated at 4.2 billion Singapore dollars, which is approximately 3.32 billion U.S. dollars. Online transactions made up 12.3 percent of the overall sales, showing a slight decrease from April’s 12.7 percent.
Additionally, the food and beverage services sector saw a 1.4 percent rise in sales year-on-year in May, building on the 1.3 percent growth from April. The sector’s total sales value was estimated at 1.0 billion Singapore dollars, with 1 Singapore dollar equating to 0.79 U.S. dollars.