Singapore’s economy recovering from lockdowns

BANGKOK: Singapore is gradually recovering from record losses prompted by coronavirus-related restrictions, according to data released on Monday.

Retail sales in South East Asia’s wealthiest economy were up 1.4 per cent in August compared to July, the Department of Statistics said, marking the continuation of a rebound seen since a two-month lockdown ended in June. August sales remained down 5.7 per cent year-on-year, however.

“Food retail and administrative [and] support services sectors remained adversely affected by ongoing social-distancing measures,” the statistics department said.

Almost 11 per cent of all August retailing was done online, including a fifth of food and beverage sales, as restaurants struggled to regain dine-in business after a ban during the lockdown. — dpa