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Chart of the Day: Check out how much retail sales growth tapered off since 1986
At least June's data rose 3%.
According to DBS, retail sales growth had continued to move in positive territory with June retail sales (excl motor vehicles) rising 3% yoy.
DBS said that this was supported by higher F&B, supermarket, watches and jewellery as well as wearing apparel and footwear trades, which helped to moderate the slower telecoms and furniture and household equipment segments.
"Domestic consumption continues to be one of the mainstays of the retail industry in Singapore given that tourism receipts from shopping and F&B, as proxy to tourist retail spend, of $7.1b makes up only 18% of total retail sales in 2012," DBS said.
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