FX.co ★ Singapore Retail Sales Hit 4-Month Low

Retail sales in Singapore rose 3% year-on-year in May 2026, easing from a 5.4% increase in April and marking the weakest annual growth since January. The slowdown was driven by declines in several segments: sales of food and alcohol fell 3.7% (after a 0.6% rise in April), while sales of motor vehicles, parts, and accessories slipped 0.8%, reversing a strong 10.7% gain in the previous month. Department store sales also remained in contraction, declining 3.3% following a 0.4% drop in April.

Growth moderated across a number of other categories as well. Sales at supermarkets and hypermarkets rose 1.1%, down from 5.9% previously, while minimarts and convenience stores saw growth slow to 1.4% from 2.7%. Petrol service station sales increased 9.5%, compared with 14.4% in April. Cosmetics, toiletries, and medical goods sales grew 4.9% (vs 6%), wearing apparel and footwear barely edged up 0.1% (vs 5.3%), and optical goods and books advanced 4.6% (vs 5.4%).

By contrast, some discretionary segments strengthened. Sales of furniture and household equipment accelerated to 4.5% from 1.8%, while recreational goods surged 23.6%, up from 13.7% in the prior month.

On a seasonally adjusted month-on-month basis, overall retail activity fell 2.3% in May, reversing an upwardly revised 0.4% increase in April.