August’s decline is in line with the 5.8% year-on-year contraction forecast by private-sector economists in a Bloomberg poll.
Singapore’s retail sales slid for yet another month in August, in spite of the measures permitting in-store shopping and dining in at restaurants.
The total retail sales value was down 5.7% year-on-year in August, making this the metric’s sixth straight month of decline. Still, this is an improvement from the 8.5% contraction registered in July, data released by the Department of Statistics (Singstat) on Oct 5 revealed.
