SINGAPORE - Singapore retail sales eked out growth in August, with strong motor vehicle sales again coming to the rescue.
However, excluding motor vehicle sales, August’s retail turnover declined 1.5 per cent year on year, extending a 2.3 per cent drop in July. Car sales in fact have done the heavy lifting of keeping retail sales in positive territory in the last few months. August’s total retail sales value was estimated at $4.1 billion, with 12.1 per cent coming from online shopping, similar to the 11.9 per cent recorded in July.
Meanwhile, sales of food and beverage services rose 4.3 per cent year on year in August, building on the 0.2 per cent rise in July.