FX.co ★ Singapore Retail Sales Fall 0.6%

Singapore's retail sales saw a decline in June following a rebound in the previous month, according to preliminary data released by the Department of Statistics on Monday.

Retail sales fell by 0.6 percent year-on-year in June, a reversal from the 2.2 percent increase observed in May.

Excluding motor vehicles, sales experienced a 3.1 percent decline from the same period last year after remaining unchanged in the previous month.

Notably, there was a significant 12.5 percent drop in the sales of optical goods and books, and a 10.1 percent decrease in apparel and footwear sales.

The data further revealed a 6.7 percent decline in sales of recreational goods, while motor vehicle sales surged by 19.5 percent.

Sales in the food and beverage services sector grew by 1.8 percent year-on-year in June, following a 3.0 percent rise in the previous month.

Online sales accounted for 12.1 percent of total retail sales, an increase from 11.6 percent in the prior month.

On a month-to-month basis, seasonally adjusted retail sales declined by 3.7 percent in June, contrasting with the 2.4 percent growth recorded in May.