Singapore Retail Sales Rise Unexpectedly In August

Singapore’s retail sales grew unexpectedly in August, figures from the Department of Statistics revealed Friday.

Retail sales advanced 2.5 percent in August from July, when sales were down 2.7 percent. Economists had forecast a 1.5 percent fall.

Sales of food and beverage services also rose 3.2 percent in August over the previous month.

On a yearly basis, retail sales fell 0.4 percent, but slower than the 2.7 percent decrease seen in July.

Excluding motor vehicles, retail sales rose 2 percent on month, taking the annual growth to 2.4 percent in August.

The material has been provided by InstaForex Company – www.instaforex.com

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