Singapore Retail Sales Rise More Than Expected In June

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Singapore retail sales rose 2.3% month-on-month in June, following May's downwardly revised 0.7% increase, a report released by the Department of Statistical showed Friday. Driven by higher sales of furniture and household equipments, footwear and food and beverages, retail sales grew more than the expected growth of 1%.

Excluding motor vehicles, retail sales grew by a seasonally adjusted 3.7% in June from May.

On an annual basis, retail sales were down 8.2% in June, smaller than the revised 10.4% decline seen in May and 9.2% fall expected by economists. Excluding motor vehicles, sales dropped 1.5% over a year ago.

Singapore retail sales rose 2.3% month-on-month in June, following May's downwardly revised 0.7% increase, a report released by the Department of Statistical showed Friday. (Market News Provided by RTTNews)