The marginal increase follows the 26% y-o-y growth recorded in June, which was due to the low base the previous year when Phase 1 measures were in place and physical stores were closed until June 18, 2020.
Singapore’s total retail sales value increased 0.2% y-o-y to $3.4 billion in July according to data from the Department of Statistics (SingStat) reported on September 3.
This marks a sixth consecutive month of increase for retail sales on a y-o-y basis, though July's growth came in below the consensus forecast of 0.3%, according to Bloomberg.
