Singapore March Retail Sales Grow To 4.7 Billion Dollars
Retail sales in Singapore grew 4.8% year-on-year in March. This represents a slowdown from the 8.3% growth recorded in February. The data was released by the Department of Statistics. Growth in the sector has slowed as post-festive spending eases. The slowdown occurs amid rising inflation, slowing growth, and tensions in the Middle East. Singapore's retail sales reached 4.7 billion Singapore dollars in March. Analysts noted the growth follows the conclusion of Chinese New Year festivities. The data is currently within market expectations and does not yet reflect the full impact of ongoing Middle East conflict on consumer spending. Most consumer segments maintained record gains despite the slower pace.
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Sources · 7 independent
CNA 938 Singapore
“Retail sales in Singapore rose 4.8% on year in March, easing from the 8.3% growth recorded in February. That's according to the latest data from the Department of Statistics.”
CNA938 Singapore
“Singapore retail sales hit 4.7 billion Singapore dollars in March, but growth slows as post-festive spending eases and global uncertainties continue.”
CNA938 Singapore
“Singapore's March retail sales grew to 4.7 billion Singapore dollars. It's a moderate growth of 4.8% on year compared to the previous month's 8.3%.”
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