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Financial News: Singapore Retail Sales Growth Slows In July

Singapore Retail Sales Growth Slows In July

09/03/2021 - 04:25:00 (RTTNews)

(RTTNews) - Singapore retail sales increased at a softer pace in July, data from the Department of Statistics showed on Friday.

Retail sales grew 0.2 percent year-on-year in July, after a 26.0 percent rise in June.

Motor vehicle sales declined 9.8 percent annually in July, after an 80.6 percent growth in the previous month.

Excluding motor vehicles, retail sales gained 2.0 percent in June, after a 19.2 percent rise in the preceding month.

Sales of petrol service stations gained 33.0 percent yearly in July and those of watches and jewelry grew 10.4 percent.

Sales of supermarkets and hypermarkets increased 4.4 percent and sales of computer and telecommunications equipment rose 4.2 percent.

On a monthly basis, retail sales grew 0.8 percent in July, after a 1.9 percent rise in the prior month.

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