Singapore's retail sales rose by 8.7% yoy in March 2022, shifting from a revised 3.5% fall a month earlier and marking the second rise in the past three months, as consumption recovered further following a full reopening of the economy. Sales rebounded for both food & alcohol (19.6% vs -16.5% in February) and wearing apparel (25.8% vs -3.1%), amid a bounce back in sales in department stores 17.2% vs -5.8%) and supermarkets (9.3% vs -10.7%). At the same time, sales growth accelerated for cosmetics, toiletries (25.2% vs 18.5%), petrol services (23.9% vs 9.1%), and computer & telecommunications (27.3% vs 6.6%). In contrast, sales continued to fall for motor vehicles (-14.1% vs -14.1%), recreational goods (-0.8% vs -1.8%), optical goods & books (-8.2% vs -7.1%), and others (-1.6% vs -8.3%). On a monthly basis, retail sales increased 7.5% in March, the first rise in three months, after a revised 1.5% decrease in February. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.53 percent from 1986 until 2022, reaching an all time high of 79.90 percent in May of 2021 and a record low of -51.60 percent in May of 2020. This page provides the latest reported value for - Singapore Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Retail Sales YoY in Singapore is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2023, according to our econometric models.