Singapore Retail Sales Growth at 14-Month Low

Retail sales in Singapore grew by 1.5% year-on-year in July 2026, marking the softest rise since May 2025 and slowing from a 4% increase in the previous month. The slowdown was mainly driven by declines in sales for department stores (-3.5% vs -9.8% in June), food and alcohol (-5.1% vs -1.2%), optical goods and books (-2.2% vs 0%), and other goods (-4% vs 1.1%). At the same time, turnover growth moderated for motor vehicles, parts and accessories (1.4% vs 3.6%), cosmetics toiletries and medical goods (4.5% vs 8.7%), and computer and telecommunications equipment (5.1% vs 11.6%). In contrast, revenues accelerated for recreational goods (13.9% vs 7.6%) and watches and jewelry (11.1% vs 10.6%). Meanwhile, total retail sales, excluding motor vehicles, parts and accessories, rose by 1.5%, following a 4.1% gain in June. On a seasonally adjusted monthly basis, retail activity increased by 0.9%, the same pace as in the preceding period.

Retail sales in Singapore rose by 4% year-on-year in June 2026, accelerating from a downwardly revised 2.9% increase in the previous month. Sales mainly increased for recreational goods (11.4% vs 25.9% in May), watches and jewelry (10.5% vs 11.7%), and computer and telecommunications (9.8% vs 7.9%). Additionally, revenues rebounded for motor vehicles, parts and accessories (3.6% vs -0.9%) and other goods (0.3% vs -4.7%), while turnover declined at a lesser extent for food and alcohol (-0.7% vs -3.5%). In contrast, department stores (-9.5% vs -3.2%) and retailers of wearing apparel and footwear (-1.7% vs 0.3%) recorded declines in sales. On a seasonally adjusted, retail activity grew by 1% in June, recovering from a slightly downwardly revised 2.2% drop in the preceding period.

Retail sales in Singapore increased 3% year-on-year in May 2026, slowing from a 5.4% rise in the previous month. The reading marked the weakest annual growth since January, as sales tumbled for food and alcohol (-3.7% vs 0.6% in April) and motor vehicles, parts and accessories (-0.8% vs 10.7%), while department store sales remained in contraction (-3.3% vs -0.4%). Growth also softened across several categories, including supermarkets and hypermarkets (1.1% vs 5.9%), minimarts and convenience stores (1.4% vs 2.7%), petrol service stations (9.5% vs 14.4%), cosmetics, toiletries and medical goods (4.9% vs 6%), wearing apparel and footwear (0.1% vs 5.3%), and optical goods and books (4.6% vs 5.4%). In contrast, sales accelerated for furniture and household equipment (4.5% vs 1.8%) and recreational goods (23.6% vs 13.7%). On a seasonally adjusted monthly basis, retail activity slipped 2.3% in May, reversing an upwardly revised 0.4% increase in the previous month.