Singapore's retail sales were down 2.8% yoy in August, after a 0.2% gain in the prior month. This was the first drop in retail trade since January, amid rising cases of the Delta strain of COVID-19. Sales growth moderated for food & alcohol (2.3% vs 9.3% in July), petrol service (23.7% vs 33.5%), wearing apparel & footwear (-1.8% vs 1.3%), watches & jewelry (7.9% vs 10.5%), and computer & telecommunications (3% vs 4.2%). In addition, sales fell further for motor vehicles (-17.5% vs -9.8%), furniture & households (-5.9% vs -3.8%), recreational goods (-5.8% vs -6.2%), optical goods & books (-9.6% vs -9.6%), others (-11.4% vs -8%), and in department stores (-8.5% vs -8%). On a monthly basis, retail sales fell 0.6%, after gaining an upwardly revised 0.9% rise in July. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.51 percent from 1986 until 2021, 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 October of 2021.
Retail Sales YoY in Singapore is expected to be 3.50 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 2022, according to our econometric models.