Pent-up demand can't return retail sales to growth: analysts

July receipts pick up on Phase 2 shopping and dining, but still post 8.5% year-on-year decline

Singapore

RETAIL receipts picked up in July on the month before, as Singapore marked its first full month of reopened bricks-and-mortar shops.

Yet, even with local shoppers making up in part for the lack of tourists, analysts expect annual turnover to come in lower this year than

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