Car sales drive July retail sales up by 2.8% y-o-y

Singapore

EASING of auto loan rules likely drove up retail sales here in July, as cash tills saw 2.8 per cent more in receipts when compared to a year ago.

However, taking away the 36.5 per cent jump in car sales, total sales saw a 3.1 per cent drop, figures released by the Department of Statistics (DOS) on Thursday showed.

On a month-on-month basis, July numbers improved from a moribund June.

July saw 1.4 per cent more sales from June. Taking away car sales, it saw an even stronger 3 per cent increa…