June 15 (Bloomberg) -- Singapore’s retail sales unexpectedly dropped for a second month as car purchases plunged, offsetting higher spending at department stores.Singapore controls pollution and congestion on its roads by selling a limited number of permits every year for each category of vehicles, and the prices of the licenses have climbed this year. Retail sales excluding automobiles may continue to rise in the coming months as Singapore’s two casino resorts attract more tourists and an expanding economy boosts hiring. Full Story
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