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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
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India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
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Central Bank Chief Of Indonesia Detained
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Malaysia economy grows and banking liberalises
Singapore Retail Sales Continue To Grow In June
by Stewart DouglasRetails sales across Singapore increased in growth over the course of June from May, according to official figures released today.
The report released by Statistics Singapore reflected a total increase on retail sales of an impressive 7.5% through the course of June, showing a growing trend towards increasing consumer spending.
This figure compares against May’s figure, which saw retail growth in the economy inflate by only 4.0%, still impressive according to industry analysts.
The cost the certificate of entitlement allowing car purchases had dramatically increased on the month, to the detriment of the car industry. Hence with the figure for vehicle sales removed, the true extent of retail sales growth in Singapore can be fully understood.
With automobiles out of the equation, sales had grown by 7.6% rather than May’s 1.8%, highlighting an astonishing growth in the once fragile, but now booming, Singapore economy.
Annually, retail sales were up 14.4%, far surpassing the widespread analyst prediction rates of just 11.8%, reflecting increasing affluence and living standards amongst Singapore nationals.
In a survey released last week of Asian economies, Singapore ranked in the top three countries in the Asian continent for living standards and economic well-being.
The news is a welcome turnaround from years of poverty and economic inefficiency, and the economy has transformed into the envy of the region.
Having seen growing success in recent years, the Singapore economy is one of the most impressive in the region, maintaining stable economic growth without the crippling problem of inflation.
Among the sectors seeing most growth were home furnishings, jewellery and computer hardware, all of which saw growth well into double figures over the month.
Recreational goods and clothing were also amongst some of the highest growing sectors, contributing towards the total growth in sales.
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