Singapore's retail sales dropped by 1.9 percent year-on-year in November, after a marginally revised 8.6 percent fall a month earlier. This was the 22th straight month of decline in retail trade but the softest since July 2019, driven by food & alcohol (-37.3% vs -43.7% in October), petrol service (-12.9% vs -12.4%), cosmetics, toliletries (-27.5% vs -29.9%), wearing apparel (-22.3% vs -26.2%), watches & jewelry (-8.6% vs -24.1%), optical good & books (-8.8% vs -12.7%), others (-19.1% vs -19.8%), and department stores (-24.5% vs -35.2%). In contrast, sales grew for motor vehicles (5.2% vs 7.5%), furniture (28.5% vs 13.2%), computer & telecommunication equipment (29% vs -18.5%), and supermarkets (22.6% vs 22.5%). On a monthly basis, retail sales rose by 7.3%, the most in four months, after a 0.2% growth in October. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.23 percent from 1986 until 2020, reaching an all time high of 50.70 percent in February of 1988 and a record low of -52 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 January of 2021.
Retail Sales YoY in Singapore is expected to be 3.00 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 5.00 in 12 months time. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2022, according to our econometric models.