Singapore – May Retail Sales
03/07/2020 02:52 pm MYT
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Seasonally adjusted, total retail sales in May plummeted 21.5%, month-on-month. Excluding motor vehicles, retail sales decreased by 20.1% – see table 1.

 

On a year-on-year basis, total retail sales in May plunged 52.1%. This was mainly due to a large decline in all industries except for supermarkets and mini-marts & convenience stores – see table 1. Excluding motor vehicles, retail sales declined by 45.2% – see figure 1.

 

Due to the “circuit breaker”, retail sales experienced their largest ever decline. While retail sales will remain weak in the near term, it should recover gradually after the “circuit breaker” ends.

 

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