Singapore retail sales growth slows to 1.5% in July as food, department store sales fall
Recreational goods recorded the strongest year-on-year growth, with sales rising 13.9 per cent.
Singapore's retail sales dipped to a 1.5% increase in July, down from a 4% growth in June, according to data from the Singapore Department of Statistics. The decline was mainly driven by a 5.1% drop in food and alcohol sales, as well as a 3.5% decrease at department stores. Despite these declines, other sectors saw growth, with recreational goods sales up 13.9% and watch and jewelry sales up 11.1%. Online transactions accounted for 15.4% of total retail sales in July, a slight decrease from 16.4% in June.
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