In a significant economic shift, Singapore's retail sales growth has slowed notably, marking a decline to just 0.3% in April 2025 from 1.3% in March the same year. This development, updated on June 5, 2025, highlights a marked deceleration in consumer spending, raising concerns among businesses and economists about the sustainability of domestic economic activity.
The year-over-year comparison reveals that while March exhibited modest growth, the drop in April suggests potential challenges ahead for Singapore's retail sector. The previous figure, representing a 1.3% growth year-over-year, had been an indicator of a relatively stable consumer environment in March but failed to retain momentum in April, with the growth plummeting to 0.3%.
This slowdown could reflect various factors, including changing consumer behaviors, possible economic uncertainties, or external pressures affecting consumer confidence and spending. As the country continues to navigate the post-pandemic economic landscape, retailers may need to adapt strategies to re-engage consumers and stimulate spending to avoid further declines.
