Retail sales post slower growth of 1.5% in July, lowest since February

Singapore's retail sales grew by just 1.5 per cent in July, recording a total value of $4.4 billion, data posted on Monday (Sept 7) by the Singapore Department of Statistics (SingStat) showed.In comparison, the growth recorded in June was 4 per cent, year-on-year. Excluding motor vehicles, parts and accessories, retail sales grew by just 1.5 per cent, down from 4.1 per cent in June.On a month-on-month and seasonally adjusted basis, retail sales rose 0.9 per cent in July, similar to the preceding month.Excluding motor vehicles, parts and accessories, retail sales expanded by 0.7 per cent, bettering June's 0.1 per cent.The total value of sales in July was $4.4 billion, but excluding motor vehicles, parts and accessories sales it was $3.7 billion, According to SingStat, 15.4 per cent of total retail sales were transacted online. Excluding motor vehicles, parts and accessories, this proportion grew to 18.3 per cent.Across the 14 categories tracked, sales growth was recorded in seven sectors, with the highest growth recorded in watches and jewellery and recreational goods: