Singapore: Retail Sales remained strong in December – UOB – by pabspiovano RetailSales Singapore Banks
Key Takeaways
“The estimated total retail sales value was S$4.69bn in Dec . While the Dec months typically see a spike in retail sales value , the latest print is the highest monthly record since the data is made available in 1997. We suspect the high Dec sales was due to a combination of stronger demand , higher prices and buying ahead of Jan 2023 GST hike.”– We have conservatively upgraded our 2023 retail sales growth forecast to 5.
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