The Business Times
business-time-50

Singapore reports disappointing 1.1% rise in June retail sales

google-preferred-sourceAdd BT as a preferred source
Tessa Oh

Tessa Oh

Published Fri, Aug 4, 2023 · 01:00 PM
    • Retail sales of computer and telecommunications equipment recorded year-on-year growth of 9.4 per cent in June.
    • Retail sales of computer and telecommunications equipment recorded year-on-year growth of 9.4 per cent in June. PHOTO: BT FILE

    SINGAPORE’S retail sales rose 1.1 per cent year on year in June, slowing from the previous month’s 1.8 per cent rise, data from the Department of Statistics (SingStat) showed on Friday (Aug 4).

    June’s figure was also lower than the median 2.1 per cent rise expected by private-sector economists polled by Bloomberg.

    RHB senior economist Barnabas Gan noted that the decline in retail sales momentum was in tandem with the slowdown in tourist arrivals.

    Singapore retailSingapore economy

    TRENDING NOW

    Galven Tan has resigned to pursue new opportunities, says Knight Frank Singapore. 

    Knight Frank Singapore CEO Galven Tan resigns after 2.5 years at helm

    National Development Minister Chee Hong Tat says: “The best way is for the government to shape behaviours with the judicious use of market-based incentives, where possible.”

    ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land

    National Development Minister Chee Hong Tat noted that the public housing market has seen a moderation in resale flat prices over the past few quarters, following multiple rounds of cooling measures as resale prices surged.

    15-month wait-out curb lifted for private property owners buying HDB resale flats

    The income upgrade has rendered the Philippines “too wealthy” to qualify for the concessional foreign aid and development loans.

    Philippines’ income upgrade hides grim reality for most Filipinos

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More