FX.co ★ Singapore Retail Sales Growth Cools to 3.0% in May, Easing From April Surge

Singapore’s retail sector saw a moderation in growth in May 2026, with year-over-year sales increasing 3.0%, down from a 5.4% annual rise recorded in April 2026.

The data, updated on 06 July 2026, show that while retail activity continues to expand compared with a year earlier, the pace of growth has eased notably from the previous month. Both the current and previous readings reflect year-over-year changes, comparing May and April 2026 respectively to the same months in 2025.

The slowdown may signal a normalization in consumer spending after a stronger April performance, and will likely be monitored closely by market participants assessing the resilience of domestic demand in Singapore’s economy.