“The fall in retail sales was largely concentrated in big ticket items, suggesting sustained cautious behaviour in consumer expenditure given the economic slowdown,” says Barnabas Gan, an economist with UOB Group.
SINGAPORE (Oct 13): Singapore’s retail sales have contracted for the seventh consecutive month, falling 4.1% year-on-year in August, according to the Department of Statistics (DOS).
For the first eight months of 2019, retail sales have shrank 2.6% y-o-y.
