retail sales index (RSI)

Singapore’s retail sales slid for yet another month in October, albeit at a smaller pace than the month before.

The decline in retail sales worsened in September, reversing from the lower declines seen in the previous months.

Market watchers are looking at a 7.6% y-o-y contraction in the GDP for 3Q2020

market watchers are looking at a 7.6% y-o-y contraction in the GDP for 3Q2020

Singapore’s retail sales slid for yet another month in August

Singapore’s retail sales continued to slide in July – the first full month that in-store shopping and dining in at restaurants were permitted after their shutdown during the “circuit breaker” in the second quarter.

Takings of Singapore’s retailers continued to slide in June despite the earlier than expected phase two measures on June 19 which permitted in-store shopping and dining in at restaurants.

Singapore’s total retail sales value deepened its plummet by 52.1% year-on-year in May, due to the ‘circuit breaker’ measures.

The 40.5% drop in April’s retail sales value marks the largest decline in the metric since its adoption in 1986

Singapore’s total retail sales value fell 13.3% year-on-year in March to $3.3 billion, following the imposition of safe distancing measures to curb the spread of the coronavirus.