Singapore reports disappointing 1.1% rise in June retail sales

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.