Singapore: June retail figures fall short of analysts’ expectations

• Aug 16, 2016

Singapore: June retail figures fall short of analysts’ expectations

Tuesday, 16 August 2016 – Retail sales here were almost flat in June – the first month of the Great Singapore Sale – compared with the same month last year.

Retailers eked out a 0.9 per cent rise in sales, below economists’ expectations of a 2 per cent increase.

Even then, much of the increase came from higher car sales, which have been getting a lift from lower certificate of entitlement premiums. Excluding motor vehicles, retail sales declined 3 per cent in June from a year earlier, with takings sliding in almost all segments.

Sales at car showrooms surged 17.1 per cent compared with June last year, according to the Department of Statistics yesterday. Read More?