Singapore Releases October 2010 Retail Sales Index
After seasonal adjustment, retail sales in October 2010 has increased 0.9% compared to September 2010.
Excluding motor vehicles, retails sales remained at similar level.
Compared to October 2009, retail sales in October 2010 decreased 2.8%
Retail sales (seasonally adjusted) increased 0.9% in October 2010 compared to September 2010.
Excluding motor vehicles, retail sales remained at similar level.
Retail sales in October 2010 decreased 2.8% compared to October 2009. Excluding motor vehicles, retail sales increased 5.3%.
The total retail sales value in October 2010 was estimated at $2.6 billion, compared to $2.7 billion in October 2009.
Catering Trade
Catering trade (seasonally adjusted) increased 1.7% in October 2010 compared to September 2010.
Compared to a year ago, catering trade went up 8.0% in October 2010.
Total value of catering trade in October 2010 was estimated at $468 million compared to $434 million in October 2009.
Month-on-Month Change (Seasonally Adjusted)
After seasonal adjustment, retail sales of petrol service stations, wearing apparel & footwear, provision & sundry shops and food & beverages increased between 1.4% and 4.9% compared to the previous month.
Sales of telecommunications apparatus & computers decreased 12.9% in October 2010 over September 2010.
Similarly, retailers of furniture & household equipment and optical goods & books reported lower turnover of 3.5% and 2.0% respectively.
Year-on-Year Change
Compared to October 2009, retail sales of motor vehicles decreased 29.6% in October 2010.
Retailers of food & beverages and telecommunications apparatus & computers also reported lower sales of 3.4% and 2.4% respectively.
Sales of medical goods & toiletries and watches & jewellery recorded double-digit growths of 12.6% and 10.4% respectively in October 2010 compared to October 2009.
Retail sales of wearing apparel & footwear, department stores, furniture & household equipment, petrol service stations, supermarkets, provision & sundry shops, optical goods & books and recreational goods grew between 1.6% and 8.8% over the same period.
Month-on-Month Change (Seasonally Adjusted)
After seasonal adjustment, turnover of food caterers, other eating places (such as cafes and canteens) and restaurants increased between 1.5% and 1.7% in October 2010 over the previous month.
On the other hand, receipts of fast food outlets decreased 1.8% compared to September 2010.
Explanatory Notes:
The Retail Sales Index (RSI) and Catering Trade Index (CTI) measure the short-term performance of retail and catering trade industries based on the sales records of retail and catering establishments.
Data for the compilation of the indices are primarily obtained from the results of the monthly surveys of retail and catering establishments respectively.
Retail establishments refer to those selling merchandise directly to the consumers.
Catering establishments are those selling prepared food and drinks for in-premises consumption or on a take-away basis.
Hawkers and stallholders selling cooked food and prepared drinks are not considered as catering establishments.
The difference between the index of the current month and that of the preceding month in percentage term indicates the monthly change.
To measure the annual change, the index of the current month is compared with that of the same month in the preceding year.
The RSI and CTI are presented at both current prices and constant prices. Changes in the indices at current prices measure the changes of sales values due to changes in both price and quantity.
By removing the price effect, the indices at constant prices measure the changes in the volume of economic activity.
Seasonal Adjustment
Seasonal effects are observed in both the RSI and CTI as there are usually intra-year periodic variations that occur during a fixed period of time.
To better reflect the underlying trend of the monthly sales, both indices are seasonally adjusted to remove the seasonal effects.
Topics: 2010, cafes, cafeterias, canteens, cars, catering, Catering Trade Index, CTI, data, drinks, eating places, economic activity, economic development, economic recovery, Economy, employment, fast food, food caterers, food outlets, furniture, Governance, jewellery, jobs, medical goods, monitor, motor vehicles, news, October, optical goods, prepared food, productivity, provision & sundry shops, restaurants, retail sales, Retail Sales Index, RSI, sales, seasonal adjustment, Singapore, sundry shops, trucks
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