Singapore Retail Sales Growth at Nearly 3-Year Low

2026-10-05 05:19 By Joshua Ferrer 1 min. read

Retail sales in Singapore grew by 0.7% year-on-year in August 2026, slowing from a downwardly revised 1.3% increase in July and marking the softest rise since September 2023.

The slowdown was driven mainly by a sharp decline in sales of motor vehicles, parts and accessories (-4.6% vs 1.3% in July), watches and jewellery (-2.7% vs 10.3%), and other goods (-4.3% vs -3.7%).

At the same time, turnover growth slowed for recreational goods (4.3% vs 14.3%).

In contrast, revenue accelerated for cosmetics, toiletries and medical goods (11.2% vs 4.5%), computer and telecommunications equipment (10.7% vs 5%), and department stores (1.6% vs -3.5%).

Petrol service stations also rebounded to 3.2% from a 1.1% decline.

Meanwhile, sales excluding motor vehicles, parts and accessories rose 1.6%, accelerating from 1.3% in July.

On a seasonally adjusted monthly basis, retail activity dropped by 1%, slipping from a downwardly revised 0.6% gain in July.



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Singapore Retail Sales Growth at Nearly 3-Year Low
Retail sales in Singapore grew by 0.7% year-on-year in August 2026, slowing from a downwardly revised 1.3% increase in July and marking the softest rise since September 2023. The slowdown was driven mainly by a sharp decline in sales of motor vehicles, parts and accessories (-4.6% vs 1.3% in July), watches and jewellery (-2.7% vs 10.3%), and other goods (-4.3% vs -3.7%). At the same time, turnover growth slowed for recreational goods (4.3% vs 14.3%). In contrast, revenue accelerated for cosmetics, toiletries and medical goods (11.2% vs 4.5%), computer and telecommunications equipment (10.7% vs 5%), and department stores (1.6% vs -3.5%). Petrol service stations also rebounded to 3.2% from a 1.1% decline. Meanwhile, sales excluding motor vehicles, parts and accessories rose 1.6%, accelerating from 1.3% in July. On a seasonally adjusted monthly basis, retail activity dropped by 1%, slipping from a downwardly revised 0.6% gain in July.
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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.
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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.
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