On a seasonally adjusted m-o-m basis, Singapore’s total retail sales fell by 9.4% to $4.2 billion.
Analysts are expecting to see downsides to Singapore’s retail sales for 2023 after the country’s retail sales index contracted by 0.8% y-o-y in January.
The contraction was a negative surprise as the consensus was expecting a 4.9% y-o-y gain for the month.
