Slower Q4 retail sales seen for Singapore, but still room for optimism: economists
SINGAPORE'S retail sales in August unexpectedly snapped its six-month expansion streak, and while economists believe business will be slow in the months ahead, some remain cautiously optimistic of a full-year growth of up to 10 per cent.
Overall retail sales fell 2.8 per cent year on year in August, dragged by motor vehicle sales which tumbled 17.5 per cent, according to the Department of Statistics Singapore on Tuesday. Total retail sales in July grew 0.2 per cent.
This corresponds with a tighter Certificate of Entitlement quota from August to October, compared with that in the three months before.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
US-Singapore FTA marks 20 years: a bridge ‘at the right place, right time’
Singapore’s employment growth eases in Q1, as tighter foreign worker quotas kick in for construction firms
Biden’s ‘worker-centred trade policy’ involves building ‘tripartism’: US trade chief
Daily Debrief: What Happened Today (Apr 29)
NTUC to help workers develop skills, adapt to new job opportunities
Singapore factory output reverses into negative territory in March, down 9.2%