FX.co ★ Singapore Retail Sales Rise the Most in 4 Months

Retail sales in Singapore saw a 1.4% increase year-on-year in May 2025, up from a revised 0.2% rise in April. This marks the third consecutive month of growth and represents the fastest annual increase since January. The growth was largely driven by improved performances across several categories. Supermarkets experienced a notable year-on-year gain of 7.2% compared to 1.0% in April. Recreational goods sales went up 7.0% from 5.0%, and optical goods & books expanded by 4.5% from 1.5%. There was also a significant rebound in motor vehicle sales, which surged 10.4% compared to a fall of 2.9% previously. Additionally, cosmetics & toiletries sales saw an increase of 2.0%, although slightly lower than the previous month's 2.4%. Despite these gains, some sectors experienced declines, notably watches & jewelry (-2.1% from a previous growth of 12.9%), mini-marts (-0.1% from 3.1%), and food & alcohol (-4.5% from 3.5%). The 'others' category (-3.5% from 2.9%), furniture & household equipment (-1.6% from -5.7%), department stores (-3.9% from -8.3%), petrol services (-9.4% from -10.6%), and apparel (-5.3% from -10.3%) also recorded declines. On a month-to-month basis, retail trade increased by 1.0%, following a stagnant April.