Singapore's retail sales inched up 2.8% in July 2016

This is thanks to higher motor vehicles turnover.

The city-state’s retail sales rate ramped up 2.8% YoY on back of stronger motor vehicle sales, which climbed 36.5% in 2016. Excluding motor vehicles, retail sales figure dropped 3.1%.

Data from Singapore’s Department of Statistics revealed that retail sales crept up 1.4% MoM in July 2016. Excluding motor vehicles which fell 4.7% during the month, retail sales rose 3.0%.

On a monthly basis, recreational goods had the largest increase at 13.6%, followed by medical goods and toiletries (8.0%), and optical goods and books (7.4%).

The total retail sales value in July 2016 was estimated at $3.7 billion, higher than the $3.6 billion in July 2015.