Retail sales in Singapore up by 2.2% in October, boosted by motor vehicle sales

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The Straits Times 2w ago

Retail sales in Singapore up by 2.2% in October, boosted by motor vehicle sales - The Straits Times

Quick Summary:

The year-on-year sales uptick gives hope the momentum could sustain itself until the year-end, said one analyst.

The biggest year-on-year rise was for vehicles – up 18.4 per cent – while food and alcohol outlay rose 5.5 per cent and furniture and household equipment spending increased 5.7 per cent.

DBS Bank economist Chua Han Teng said the year-on-year sales uptick early in the fourth quarter of 2024 gives hope that the positive momentum could sustain itself until the end of the year.