Retail sales in Singapore up 2% in September, boosted by motor vehicle sales

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The Straits Times 2w ago

Retail sales in Singapore up 2% in September, boosted by motor vehicle sales - The Straits Times

Quick Summary:

Food and beverage sales also saw an increase in September, although sales at restaurants and fast-food outlets fell.

Major sporting events, popular concerts, business travel, and meetings, incentives, conventions and exhibitions could support retail sales, while disbursement of the Government’s cash handouts – such as under the Assurance Package in December – will be an additional boost for consumers, said UOB economist Jester Koh.

Sales of discretionary items like apparel and footwear continued to decline as the strong Singapore dollar likely gave locals the incentive to divert their spending and purchase such goods when they travel abroad, said DBS Bank economist Chua Han Teng.