Car sales boost retail takings in September
15 Nov 2014|1,804 views
Car sellers had a much better September this year while the rest of the sluggish local retail sector could only look on in envy, reported The Straits Times.
Overall retail takings climbed 5.5 percent in September compared with the previous year, the Department of Statistics said on Friday. But strip out car sales and that seemingly buoyant growth figure shrinks to just a marginal 0.6 percent increase over the same time frame.
Motor vehicle sales stood out, having leapt 30 percent in September from the preceding year.
However, that was a slower pace than in August where car sales rocketed 49.5 percent from the previous year due to lower Certificate Of Entitlement (COE) premiums.
Petrol service stations also posted a 0.6 percent rise in receipts in September. The second best performer, medical goods and toiletries, was far behind with its 6.9 percent increase from last year.
Overall retail sales fell 0.4 percent from August to September. Without car sales, the drop would have been 0.9 percent over that time frame.
Car sellers had a much better September this year while the rest of the sluggish local retail sector could only look on in envy, reported The Straits Times.
Overall retail takings climbed 5.5 percent in September compared with the previous year, the Department of Statistics said on Friday. But strip out car sales and that seemingly buoyant growth figure shrinks to just a marginal 0.6 percent increase over the same time frame.
Motor vehicle sales stood out, having leapt 30 percent in September from the preceding year.
However, that was a slower pace than in August where car sales rocketed 49.5 percent from the previous year due to lower Certificate Of Entitlement (COE) premiums.
Petrol service stations also posted a 0.6 percent rise in receipts in September. The second best performer, medical goods and toiletries, was far behind with its 6.9 percent increase from last year.
Overall retail sales fell 0.4 percent from August to September. Without car sales, the drop would have been 0.9 percent over that time frame.
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