Singapore retail sales up 0.6% in August, driven by vehicle takings

SINGAPORE’S retail sales grew 0.6 per cent on year in August, less than the 1 per cent growth recorded in July, based on Department of Statistics (Singstat) data released on Friday (Oct 4).

Still, the reading was higher than the median forecast of 0.2 per cent growth in a Bloomberg poll of private-sector economists.

On a month-on-month, seasonally adjusted basis, retail sales rose 0.7 per cent, slowing significantly from the 3.1 per cent expansion in July.