Singapore's retail sales unexpectedly plunged by 3.4% year-on-year in December 2019, the 11th straight month of fall, after a revised 4.2% decline in the prior month, missing market expectations of a 1.1% gain. Sales shrank for motor vehicles (-24.1% vs -22.4% in November), furniture & household equipment (-8.2% vs -10.9%), computer & telecommunications equipment (-6.3% vs 2.5%), namely mobile phones; optical goods & books (-1.2% vs -0.4%); department stores (-5.6% vs -8.4%) and food retailers (-0.9% vs -1%). In contrast, sales rose for watches & jewellery (8.9% vs 1.6%); petrol services (5.4% vs 0.4%), medical goods & toiletries (4.8% vs -0.3%), wearing apparel & footwear (2.3% vs 5%) and recreational goods (0.6% vs -1.3%). On a monthly basis, retail sales fell by 1% in December, after a downwardly revised flat reading in November. In 2019, retail trade shrank 2.8 percent after decreasing 0.8 percent in the previous year.

Retail Sales YoY in Singapore averaged 4.79 percent from 1986 until 2019, reaching an all time high of 50.90 percent in February of 1988 and a record low of -28.40 percent in February of 1986. 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. source: Statistics Singapore

Retail Sales YoY in Singapore is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Singapore to stand at 3.00 in 12 months time. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2021, according to our econometric models.


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Singapore Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
-3.40 -4.20 50.90 -28.40 1986 - 2019 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-11-12 05:00 AM Sep -2.2% -4.0% -6.1% -7.5%
2019-12-12 05:00 AM Oct -4.3% -2.1% -4.5%
2020-01-10 05:00 AM Nov -4% -4.4% -1.5%
2020-02-12 05:00 AM Dec -3.4% -4.2% 1.1% 0.7%
2020-03-12 05:00 AM Jan -3.4$ -4.5%
2020-04-09 05:00 AM Feb
2020-05-12 05:00 AM Mar 2.3%
2020-06-12 05:00 AM Apr


News Stream
Singapore Retail Sales Unexpectedly Slump in December
Singapore's retail sales unexpectedly plunged by 3.4% year-on-year in December 2019, the 11th straight month of fall, after a revised 4.2% decline in the prior month, missing market expectations of a 1.1% gain. Sales shrank for motor vehicles (-24.1% vs -22.4% in November), furniture & household equipment (-8.2% vs -10.9%), computer & telecommunications equipment (-6.3% vs 2.5%), namely mobile phones; optical goods & books (-1.2% vs -0.4%); department stores (-5.6% vs -8.4%) and food retailers (-0.9% vs -1%). In contrast, sales rose for watches & jewellery (8.9% vs 1.6%); petrol services (5.4% vs 0.4%), medical goods & toiletries (4.8% vs -0.3%), wearing apparel & footwear (2.3% vs 5%) and recreational goods (0.6% vs -1.3%). On a monthly basis, retail sales fell by 1% in December, after a downwardly revised flat reading in November. In 2019, retail trade shrank 2.8 percent after decreasing 0.8 percent in the previous year.
2020-02-12
Singapore Retail Sales Fall for 10th Month
Singapore's retail sales dropped by 4 percent year-on-year in November of 2019, the ninth straight month of fall, after an upwardly revised 4.4 percent drop in the prior month. Sales dropped less for motor vehicles (-22.4% vs -22.8% in October), optical goods & books (-0.9% vs -6.9%). In addition sales rebounded for both petrol stations (0.4% vs -6.2%) and others (1.5% vs -3.7%). Meantime, sales rose softer for: wearing apparel & footwear (4.3% vs 4.6%), watches & jewelry (1.6% vs 7.4%). On the other hand, sales fell further for food retailers (-1.2% vs -0.4%), department stores (-8.4% vs -2.1%), furniture & household equipment (-10.9% vs -10.7%), and recreational goods (-4.5% vs -4.0%). On a monthly basis, retail sales went up 0.2 percent in November, following an upwardly revised 2.4 percent fall in October.
2020-01-10
Singapore Retail Sales Fall for 9th Month
Singapore's retail sales dropped by 4.3 percent year-on-year in October of 2019, the ninth straight month of fall, after a marginally revised 2 percent drop in the prior month. Sales fell further for motor vehicles (-22.7% vs -12.3% in September), furniture & household equipment (-10.6% vs -9.3%), optical goods & books (-6.9% vs -0.5%), recreatinal goods (-2.4% vs -7.3%), and others (-1.7% vs -0.7%). Also, sales fell further in petrol stations (-6.2% vs -3.3%), department stores (-2.1% vs -1.2%), and food retailers (-0.6% vs -1.1%). In contrast, sales of wearing apparel & footwear grew more (4.7% vs 4.6%), while those of watches & jewelry rebounded (7.2% vs -4.4%). On a monthly basis, retail sales shrank 2.2 percent in October, following a marginally revised 2 percent fall in September.
2019-12-12
Singapore Retail Sales Fall for 8th Month
Singapore's retail sales dropped by 2.2 percent year-on-year in September of 2019, the eighth straight month of fall, after a marginally revised 4 percent drop in August and compared to market consensus of a 6.1 percent fall. Declines were seen in sales of motor vehicles (-12.3% vs -20.3% in August); furniture & household equipment (-8.9% vs -9.8%); watches & jewelry (-4.4% vs -8.7%); and recreational goods (-6.1% vs -2.6%). Also, sales fell further in petrol stations (-3.3% vs -3.3%) and food retailers (-0.5% vs -2.4%). In contrast, sales grew for medical goods & toiletries (3.2% vs 3.7%), wearing apparel & footwear (4.2% vs 5%), computer & telecommunications equipment (8.7% vs -0.4%) and optical goods & books (2.1% vs -1.4%). On a monthly basis, retail sales rose unexpectedly by 1.9 percent in September, following a marginally revised 1.2 percent fall in August and beating forecasts of a 1.4 percent decline.
2019-11-12

Singapore Retail Sales YoY
In Singapore, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.