S'pore Aug retail sales up

[Leepee]

I don't understand....the recent COE quota cut was only occured in September08, so how can they say "a sharp drop in car sales weighed on overall performance" for the August sales figure.

 

In another paragraph, the article compares the lower car sales figures to the same month in 2007. But I thought the COE quota cut in April this year was not so much to warrant a "plunge of 20.4%" in July.

 

 

 

S'pore Aug retail sales up

 

Wed, Oct 15, 2008

Reuters

 

 

SINGAPORE'S retail sales rose in August, up a seasonally adjusted 0.9 per cent from July, though a sharp drop in car sales weighed on overall performance, data showed on Wednesday.

 

The rise in August after adjusting for seasonal patterns comes after retail sales were unchanged in July compared to the previous month. From a year ago, the August index rose 4.2 per cent, lower than the 11.8 percent rise in July.

 

Economists had forecast August's retail sales to slow as weaker economic growth and a softening labour market weigh on consumer spending.

 

Excluding motor vehicle sales, the August index was 3.8 per cent higher after adjustment for seasonal patterns, following a 2.4 per cent rise in July, the Department of Statistics said.

 

Retail-sale volumes were unchanged from a year earlier after removing the effect of higher prices. Adjusted for seasonal factors, sales in August rose 0.9 per cent from July.

 

Vehicle sales in August fell 12.9 per cent from the same month in 2007. From July, auto sales plunged 20.4 per cent, without adjusting for seasonal factors.

 

Purchases of recreational goods declined 6.8 per cent in August from a year earlier, and fell 3.6 per cent from July. -- REUTERS

[Leepee]

In July2007...total COE quota was 10795

In July2008...total Cpe qupta was 9287.

The difference is only ~10% lesser COE.

 

The article seems to blames the retail sales on lesser people buying cars.....but ina ctual fact the GOV is able to contorl the Quota to make the retail sales figure look good or bad.

This mean that whenever the gov were to reduce COE quota, then the retail sales figure will be presented with an 'artificial' sense of poor retail sales as not as good as the year before!

 

To avoid the TECHNICAL recession from becoming a REAL recession....I hereby propose that GOV immediately increase the COE quota figures in order to SAVE Singapore from recession in the next coming quarters.

 

More car COE quota = More cars registered monthly = Good retail sales figure = Robust Economy!

 

Correct or not??

[Blackyv]

More car COE quota = More cars registered monthly = Good retail sales figure = Robust Economy= more good year ahead

 

u miss out the last part...