Singapore's retail sales growth momentum is likely to ease in 2H, as mounting economic headwinds could temper consumer spending, RHB Bank's group chief economist Barnabas Gan says in a report. Global geopolitical uncertainties are expected to weigh on consumer and business confidence, leading to more cautious spending on non-essential items such as fashion and recreational products. Elevated fuel and transport costs could also feed through gradually into broader consumer prices, pushing up inflation and affecting consumers' purchasing power. RHB maintains Singapore's 2026 retail sales growth forecast at 3.0%.(amanda.lee@wsj.com)
Dow Jones Newswires
Singapore Retail Sales Growth Momentum Likely to Ease in 2H — Market Talk
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Singapore's retail sales growth momentum is likely to ease in 2H, as mounting economic headwinds could temper consumer spending, RHB Bank's group chief economist Barnabas Gan says in a report. Global geopolitical uncertainties are expected to weigh on consumer and business confidence, leading to mo…