Business

S'pore retail sales rise 1.8% in July

Retail sales in Singapore continued to modestly improve with a slightly stronger-than-expected 1.8 per cent rise in July from a year ago, as the majority of categories enjoyed growth.

Analysts polled by Bloomberg had tipped sales to rise by 1.7 per cent. July's performance was slightly below the revised 2 per cent rise in takings in June, which followed the 0.8 per cent increase in May.

Sales of cars and other vehicles edged up 0.3 per cent year-on-year, turning around from the 5.6 per cent drop in sales in June.

Excluding this category, July retail sales grew 2.2 per cent year-on-year, according to the Department of Statistics data yesterday. The total retail sales value in July was estimated at $3.7 billion, higher than the $3.6 billion in July last year. - THE STRAITS TIMES

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