Singapore July Retail Sales Fall More Than Expected

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Tuesday, Singapore's Department of Statistics said retail sales declined by a seasonally adjusted 1.6% in July from June, while economists were looking for a 0.3% drop. July's fall reversed an increase of 2.1% seen in June. Motor vehicles and petrol service stations recorded lower sales of 6% and 3.2%, respectively.

Compared to July 2008, retail sales slipped 9.8%, larger than the expected 7.5% decrease. Excluding motor vehicles, sales were down 2.2%.

Tuesday, Singapore's Department of Statistics said retail sales declined by a seasonally adjusted 1.6% in July from June, while economists were looking for a 0.3% drop. (Market News Provided by RTTNews)