Singapore experienced a significant surge in retail sales in February 2024, with a remarkable increase of 3% compared to the previous month. This growth marks a stark contrast to January 2024 when the indicator had decreased by -0.5%. The latest data, updated on April 5, 2024, has shown a promising trend in the retail sector in Singapore.
The month-over-month comparison indicates a positive shift in consumer spending and economic activity within the country. This upturn in retail sales could be attributed to various factors, including increased consumer confidence, promotional activities, or seasonal effects. The boost in retail sales signals a potential economic rebound and a positive outlook for Singapore's retail industry moving forward.
