According to the Singapore Department of Statistics (DOS), the retail sales index, excluding automobiles, registered a 2.2 percent increase in May 2018 compared to a year ago. This signals a pickup in the retail sector, although market watchers are wary of waning momentum given the lower-than-expected 2Q18 GDP data released just two weeks ago. Meanwhile, Singapore retailers continue to struggle with rising manpower and rental costs, combined with the stiff competition from online retailers.
Copy and paste this URL into your WordPress site to embed
Copy and paste this code into your site to embed