Find out its biggest drag.
According to Moody's Analytics, headline retail spending in Singapore has been hindered by the tightening of Certificates of Entitlement for automobiles. Sales excluding motor vehicles are growing at a stronger, albeit still-subdued, pace. The tight employment market is boosting wages and should boost spending in coming months.
The forecast came as official Singapore retail sales data for December are scheduled to be released this Thursday, February 14.
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