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Singapore's March retail sales surprises on upside with 8.7% y-o-y growth

Felicia Tan
Felicia Tan5/5/2022 11:23 PM GMT+08  • 3 min read
Singapore's March retail sales surprises on upside with 8.7% y-o-y growth
UOB economist Barnabas Gan is estimating that Singapore’s retail sales will expand by another 6.0% in 2022. Photo: The Edge Singapore
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Singapore’s retail sales for the month of March expanded 8.7% y-o-y, reversing from the 3.5% y-o-y contraction in February.

The expansion surprised on the upside, surpassing the much slower 0.7% y-o-y estimate pencilled in by market watchers.

The increase was partly attributed to larger growths in the computer & telecommunications equipment, wearing apparel & footwear and cosmetics, toiletries & medical goods industries.

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