September retail sales up 5.5%, buoyed only by vehicle sales
Otherwise muted uptick linked to lower tourist spending, knock-on effects of property cooling measures
Singapore
DRIVEN by sales of motor vehicles, retail sales grew 5.5 per cent year on year in September, without which they would have been up by a more muted 0.6 per cent.
Total retail sales value in September was S$3.1 billion, up from S$3 billion a year ago. Sales of motor vehicles rose 30 per cent year on year and just 1.8 per cent month on month, said the Department of Statistics (DOS) on Friday. "Retailers of motor vehicles recorded an increase in sales of 30 per cent (year on year) in September, in line with the increase in the number of motor-vehicle sales transactions," it said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Philippines central bank not seeing rate hike despite peso weakness: finmin
Middle East tensions threaten global progress on inflation: World Bank
Heatstroke kills 30 in Thailand this year as South-east Asia bakes
Thailand to appoint former energy executive Pichai as finance minister, sources say
Consumer gulf widens as demand for premium and budget foods grows
‘To the Future’: Saudi Arabia spends big to become an AI superpower