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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Retail Sales YoY fell to 3.0% in May 2026
FMPMonthlyReleased July 2026
Singapore Retail Sales YoY fell to 3.0% in May 2026, released July 2026, down 2.4% from April's 5.4% reading. The reading missed the 6.0% consensus by 3.0%. The print is running well below the 12-month average of 3.92%. Over the past 3 months, Retail Sales YoY averaged 5.1%, vs 3.53% in the prior 3-month window. The reading is in the 63rd percentile of the trailing 24-month range.
Latest Release
3
Actual
6
Consensus
5.4
Previous
Median Absolute Error
±1.88 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 6.8
Actual: 3
Error: +3.8
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.65 | COMMODITIES | Moves with | → View |
| BTC/USD | ▲ Direct | +0.39 | CRYPTO | Moves with | → View |
| USD/SGD | ▼ Inverse | −0.35 | FOREX | Moves against | → View |
| S&P 500 | ▲ Direct | +0.26 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Retail Sales YoY (Singapore) was reported at 3% in July 2026. This missed the market consensus of 6% by 3%. The reading fell from the previous value of 5.4%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 3.66%, ranging from -0.4% to 6.3% across 10 releases.
WHY IT MATTERS
The trailing three releases averaged 2.67%, down from the prior three at 4.5%. Volatility over the past year (σ 1.87%) is lower than the prior year (σ 2.19%).
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with BTC/USD, positively correlated (Bullish BTC). Over the last 12 releases, the Sigmacast model's median absolute error is 1.88%.
WHAT TO WATCH NEXT
The next release is scheduled for August 5, 2026.
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Retail Sales YoY - SG
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About Retail Sales YoY — Singapore
DEFINITION
Retail Sales YoY (Year-over-Year) is a financial indicator that measures the change in the total value of goods and services sold by retailers compared to the same period in the previous year. It provides insight into the strength of consumer spending and overall economic growth, making it a key metric for investors, businesses, and policymakers. A positive YoY growth indicates an increase in consumer demand, while a negative growth may signal a decline in consumer confidence and potential economic slowdown.
WHY THIS INDICATOR MATTERS
Consumer activity accounts for the majority of GDP in advanced economies, making spending data a key cyclical signal for retail and discretionary sectors. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 3 %, consensus 6 %. Prior reading (Apr 2026): 5.4 %. Before that (Mar 2026): 4.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with XAU/USD (Bullish XAU, r=0.65) — a useful reference for commodities-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - SG Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | SG | Bank Lending | 931.4 | 917.7 | 884.1 | 907.75 | Low |
| 02:30 | SG | Unemployment Rate | 2 | 2 | 2.1 | 2.05 | Low |
| 05:00 | SG | Business Confidence | 12 | 17 | 5 | 8.50 | Low |
| Monday, August 3, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 13:00 | SG | SIPMM Manufacturing PMI | 51.3 | 51.5 | 51.50 | Low | |