Retail sales in Singapore rose 2.2% y-o-y in October. On a seasonally adjusted m-o-m basis, retail sales grew 0.1% y-o-y.
Analysts at RHB Bank Singapore are keeping “neutral” on retail REITs, despite expecting sales to improve further in 4Q2024 and 1Q2025.
This is underpinned by a resilient global economic backdrop, spending related to upcoming festive seasons and year-end holidays as well as a healthy labour market
