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

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    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