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2026-04-06 16:46:54
[UOB: Singapore Retail Sales Resilient in the Short Term but Face Headwinds for the Year] ⑴ Jester Koh of UOB stated in a report that while Singapore's retail sales activity showed resilience in January and February, it may face headwinds for the remainder of the year. Retail sales grew by 3.5% in the first two months of the year, compared to 0.9% in the same period last year. ⑵ Koh noted that this improvement was driven by a generally resilient labor market. However, consumer sentiment could be hampered by the Middle East conflict, and hiring intentions could become more cautious amid rising uncertainty surrounding supply chain disruptions and soaring energy prices. ⑶ Koh said this could exacerbate broader inflationary pressures and put pressure on global demand.
