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Singapore registers July retail sales of $3.4 bil, growing only 0.2% y-o-y

Atiqah Mokhtar
Atiqah Mokhtar9/3/2021 01:06 PM GMT+08  • 5 min read
Singapore registers July retail sales of $3.4 bil, growing only 0.2% y-o-y
On a month-on-month basis, Singapore's retail sales grew 0.8%.
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Singapore’s total retail sales value increased 0.2% y-o-y to $3.4 billion in July according to data from the Department of Statistics (SingStat) reported on September 3.

This marks a sixth consecutive month of increase for retail sales on a y-o-y basis, though July's growth came in below the consensus forecast of 0.3%, according to Bloomberg.

The marginal increase follows the 26% y-o-y growth recorded in June, which was due to the low base the previous year when Phase 1 measures were in place and physical stores were closed until June 18, 2020.

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