Bloomberg.com, 15 Jul 2009, Shamim Adam
July 15 (Bloomberg) -- Singapore’s retail sales fell for an eighth month in May as jobs losses, wage cuts and fewer tourist arrivals depressed spending.
The retail sales index dropped 10.3 percent from a year earlier, after sliding a revised 11.4 percent in April, the Statistics Department said today. The median estimate of 11 economists surveyed by Bloomberg News was for a 10.6 percent decline. Adjusted for seasonal factors, sales rose 0.8 percent from April.
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