Retail sales dip in June, reversing May’s growth

Promising outlook: Shop facades at the Orchard Road area in Singapore. While retail sales dipped in June, some analysts say the F1 Grand Prix in September, among other things, may spearhead a rebound in the coming months. — Bloomberg

SINGAPORE: Takings at the till in Singapore fell 0.6% in June from the same month a year earlier, reversing a 2.2% growth in May.

The fall is likely due to more residents travelling overseas during the school holidays, encouraged by the favourable Singapore exchange rate compared with other places, said analysts.