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Financial News: Singapore Retail Sales Fall In June

Singapore Retail Sales Fall In June

08/08/2019 - 03:41:00 (RTTNews)

(RTTNews) - Singapore's retail sales declined at a faster-than-expected rate in June, figures from the Department of Statistics showed on Thursday.

Retail sales declined 8.9 percent year-on-year in June, following a 2.0 percent fall in May. Economists had expected a 3.7 percent fall.

Excluding motor vehicles, total retail sales fell 2.7 percent in June, following a 0.8 percent decrease in the preceding month.

Sales of motor vehicles declined 32.4 percent in June. Furniture and household equipment and computer and telecommunications equipment sales eased by 15.1 percent and 7.7 percent, respectively.

On a monthly basis, retail sales dropped 2.2 percent in June, at the same rate as seen in May.

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