June’s decline also beat the 28.5% slide estimated by private-sector economists in a Bloomberg poll.
Takings of Singapore’s retailers continued to slide in June despite the earlier than expected phase two measures on June 19 which permitted in-store shopping and dining in at restaurants.
The total retail sales value declined 27.8% year-on-year in June, making this the metric’s fourth straight month of decline. Still, this is an improvement from the historic 52.1% contraction registered in May, data released by the Department of Statistics (Singstat) on August 5 revealed.
