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.