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.