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Singapore retail sales up 13% in August, extending July’s growth

Tessa Oh

Tessa Oh

Published Wed, Oct 5, 2022 · 01:00 PM
    • Almost all retail sales categories saw growth in August, with the exception of supermarkets and hypermarkets, motor vehicles, and mini-marts and convenience stores.
    • Almost all retail sales categories saw growth in August, with the exception of supermarkets and hypermarkets, motor vehicles, and mini-marts and convenience stores. PHOTO: BT FILE

    SINGAPORE’S retail sales continued to rise year on year in August, but declined on a seasonally-adjusted monthly basis, according to the latest figures from the Department of Statistics (Singstat) on Wednesday (Oct 5).

    Total retail sales went up by 13 per cent year on year in August, extending the 13.9 per cent increase of the previous month. But on a month-on-month seasonally adjusted basis, retail sales were down 1.3 per cent, reversing a 0.7 per cent increase in July.

    While the latest figures fell short of forecasts, most economists were optimistic that retail sales will continue to be buoyed by the continued recovery of domestic consumption and international travel.

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