FX.co ★ Singapore Retail Sales Drop in February

In February 2025, Singapore experienced a 3.6% decline in retail sales compared to the same month the previous year. This followed an upward revision marking an eleven-month peak with a 4.7% increase in January. Significant drops were observed in sectors such as wearing apparel and footwear, which fell by 27.3% compared to the previous month's 18.4% decline. Supermarkets and hypermarkets experienced a 24.3% decrease, down from a 13.3% drop in January, while sales of food and alcohol plunged by 22.2%, following a 12.5% decline previously. Meanwhile, the growth in sales for cosmetics, toiletries, and medical goods moderated sharply to 2.8% from 10.1%, and watches and jewelry saw growth slow to 2.8% from 16.3%. In contrast, there was notable acceleration in sales for motor vehicles, which surged by 20% compared to a modest 2% the preceding month. Optical goods and books improved by 6.4% from a previous 1.8% decline, and the computer and telecommunications sector saw a rise of 4.3%, recovering from a 3.2% fall. Overall, on a seasonally adjusted monthly basis, retail sales increased by 3%, building on the upwardly revised 2.8% rise recorded in the prior period.