Singapore retail sales fall 7.8% in August on lower car demand
Retailers in Singapore saw their takings fall 7.8 per cent in August over a year ago, dragged down by slow car sales.
Excluding motor vehicles, retail sales were up 1.4 per cent compared to last August, according to data released by the Department of Statistics on Monday.
Retailers of motor vehicles reported a 41.5 per cent plunge in sales, while sellers of telecommunications apparatus & computers and furniture & household equipment also saw revenues fall 7.7 per cent and 7.1 per cent respectively.
On a month-on-month basis, retail sales were 3.6 per cent higher than July, and 3.3 per cent higher excluding car sales.