Singapore's retail sales rose by 1.9% year-on-year in November 2021, slowing sharply from a 7.5% gain in the prior month. This was the weakest growth in retail trade since a drop in August, as as consumption weakened following rising cases of the Omicron strain of COVID-19. Sales growth slowed for cosmetics & medicinal goods (7.6% vs 9.3% in October), furniture & household equipment (8% vs 8.3%), food & alcohol (6.9% vs 8.4%), watches & jewelry (15.3% vs 28.3%), and and in supermarkets (5.7% vs 10.3%). In addition, sales fell further for motor vehicles (-12.3% vs -13.1%), recreational goods (-3.4% vs -5.1%), optical goods & books (-11.3% vs -16.9%), and others (-5.5% vs -7.4%). Also, sales of computer & telecommunications shrank 6.7% after jumping 72.9% in October. By contrast, sales rose faster for petrol service (21.1% vs 16.3%) and wearing apparel (12.8% vs 4.9%). On a monthly basis, retail sales went up 2.5%, stronger than a 0.7% gain in October. source: Statistics Singapore
Retail Sales YoY in Singapore averaged 4.52 percent from 1986 until 2021, reaching an all time high of 79.90 percent in May of 2021 and a record low of -51.60 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 2022.
Retail Sales YoY in Singapore is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Retail Sales YoY is projected to trend around 3.00 percent in 2023, according to our econometric models.