Singapore's F&B sector sales sees growth
Fast food outlets is leading the list with a 14.6% jump in sales.
According to the Department of Statistics Singapore, sales of food and beverage services increased 2.1% in June 2017 as opposed to the previous corresponding period. The total sales value of the F&B sector was estimated to be valued at $680m, higher than the $673m in June 2016.
Turnover of fast food outlets increased 14.6% in June 2017 compared to June 2016. Similarly, sales of food caterers and other eating places rose 4.9% and 1.3% respectively during this period.
A report by Straits Times Singapore said that the slower market for restaurants could be due to more conservative spending as there are still uncertainties in the economy, per Lim Rui Shan, executive director of the Restaurant Association of Singapore.
