Singapore Releases September Retail Sales And Catering Trade Index
Retail Sales Index, Catering Trade Index September 2009 Highlights
Retail Sales
- Retail sales (seasonally adjusted) decreased by 7.9% in September 2009 compared to August 2009, due mainly to lower sales of motor vehicles.
- Retail sales excluding motor vehicles (seasonally adjusted) increased by 2.1% in September 2009 compared to August 2009.
- Retail sales in September 2009 declined by 11.8% compared to September 2008. Excluding motor vehicles, the sales fell by 1.2% over a year ago.
Catering Trade
- Catering trade (seasonally adjusted) rose by 0.8% in September 2009 compared to August 2009.
- Compared to a year ago, catering trade decreased by 4.6% in September 2009.
Retail Sales by Sector
Month-on-Month Change (Seasonally Adjusted)
After seasonal adjustment, sales of motor vehicles and wearing apparel & footwear decreased by 15.1% and 7.4% respectively in September 2009 over August 2009. Similarly, furniture & household equipment, medical goods & toiletries, watches & jewellery, department stores, petrol service stations and supermarkets recorded lower sales of between 1.0% and 4.8% in September 2009 over the previous month.
On the other hand, sales of telecommunications apparatus & computers, recreational goods, provision & sundry shops, optical goods & books and food & beverages increased by between 1.4% and 8.6% in September 2009 over August 2009.
Year-on-Year Change
Turnover of motor vehicles in September 2009 was 36.3% lower compared to September 2008. Sales at petrol service stations also dropped by 11.9%, due partially to lower prices. After adjusting for price changes, the volume of petrol sales declined by 5.6% over a year ago.
Similarly, sales of optical goods & books, telecommunications apparatus & computers and furniture & household equipment decreased by between 3.1% and 4.7% over September 2008.
In contrast, medical goods & toiletries, recreational goods, department stores and watches & jewellery reported increases of between 3.1% and 5.2% over a year ago. Supermarkets and wearing apparel & footwear also reported 1.9% and 1.0% growths in receipts respectively in September 2009 over September 2008.
Catering Trade by Sector
Month-on-Month Change (Seasonally Adjusted)
After seasonal adjustment, receipts at restaurants, fast food outlets and food caterers decreased by between 1.1% and 2.4% in September 2009 over August 2009. On the other hand, receipts at other eating places (such as cafes and canteens) rose by 2.9% over the previous month.
Year-on-Year Change
Receipts of food caterers and other eating places declined by 12.0% and 8.5% respectively in September 2009 over September 2008 while receipts at restaurants decreased by 1.6%. Conversely, turnover at fast food outlets increased by 5.8% over a year ago.
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. ata 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 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: Catering Trade Index, economic development, Economy, Governance, retail sales, Singapore
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