Month on month and seasonally adjusted, retail sales dipped 1 per cent.
SINGAPORE – Retail sales in Singapore rose for the third month in a row, lifted by Taylor Swift’s Eras Tour performances in March, but there is concern that the trend could weaken in the coming months.
Oxford Economics’ economist Sheana Yue said the March data adds to wider evidence that the retail sector rebounded at the start of the year, with sales growing 1.3 per cent quarter on quarter in the first quarter, compared with a 0.3 per cent contraction in the fourth quarter of 2023. The biggest month-on-month rise was for food and alcohol , followed by cosmetics, toiletries and medical goods and sales at department stores .
“In addition, we saw seasonally adjusted month-on-month declines for several components that may reflect the dip in demand after the festive season and could be temporary,” added the UOB economists. Looking ahead, Ms Yue warned that the lift to retail sales will fade over the coming months as the 21 per cent quarter-on-quarter jump in tourist arrivals in the first quarter is unlikely to be repeated.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taylor Swift's Tortured Poets Department dominates US sales and Billboard chartsTraditional album sales totalled 1.91 million in the week ending Apr 25 between digital download albums, CDs, cassettes and also included 859,000 vinyl sales, Billboard said, citing data from Luminate.
Read more »
Travis Kelce named host of Prime Video's Are You Smarter Than A Celebrity? game showKelce, who is dating music superstar Taylor Swift, has already completed filming the 20-episode season.
Read more »
Taylor Swift fans buy space on Times Square billboard to congratulate singerSwift made history by being the first artiste to occupy the top 14 spots on the Billboard Hot 100 music chart.
Read more »
'Completely floored by the love': Taylor Swift 'mind blown' by new album successTaylor Swift has been left 'mind blown' by the success of her new album. The 34-year-old pop megastar released The Tortured Poets Department last week amid her 'Eras' world tour and took to social media on Sunday (April 28) evening to express her surprise after Billboard reported that the LP had amassed 2.
Read more »
Taylor Swift beats Beatles in race to 12th UK number one albumLONDON - Taylor Swift topped the British music charts on April 26 with The Tortured Poets Department, outselling the rest of the top ten combined and beating the Beatles for the record of fastest artist to rack up 12 UK number one albums. 'Poets' delivered the biggest opening week for an album in the UK in seven years, and means...
Read more »
Taylor Swift fans descend on London pub name-checked on albumLONDON — Taylor Swift fans are flocking to The Black Dog, a pub in southwest London, after it was name-checked on the US singer's new album The Tortured Poets Department.
Read more »