SINGAPORE (Oct 16): Retail sales in Singapore saw a 3.5% y-o-y in August, above consensus of 2.4%, on a headline basis, according to Credit Suisse.

Retail sales, excluding motor vehicles, also saw a 3.7% y-o-y increase in August, compared to a 2.2% increase in July.

In a Friday report, analyst Gerald Wong says, “We believe this supports our view that private consumption could surprise positively as export strength and improving property sentiment lead to a recovery in retail sales... (Click here to read the full story.)