Economist at UOB Group Barnabas Gan reviews the recently published Retail Sales data in Singapore. Key Quotes “Singapore retail sales fell 6.1% y/y (-1.8% m/m sa) in January 2021, marking 24 straight months of contraction.” “Retail sales may continue to stay subdued at least into 1H21, given the absence of tourism-led demand. The resurgence of COVID-19 cases globally, coupled with the new contagious strains seen to-date, may mean that international travel could stay weak for a prolonged period”¦ However, we think that the improving domestic demand seen todate, should it be sustained, could be sufficient allow a rebound in 2H21. Barring an unexpected exacerbation of COVID-19 infections in Singapore, we remain cautiously optimistic for retail sales to recover to +1.0% in 2021.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Polkadot Price Forecast: DOT bound for a 30% move determined by two key levels FX Street 1 year Economist at UOB Group Barnabas Gan reviews the recently published Retail Sales data in Singapore. Key Quotes "Singapore retail sales fell 6.1% y/y (-1.8% m/m sa) in January 2021, marking 24 straight months of contraction." "Retail sales may continue to stay subdued at least into 1H21, given the absence of tourism-led demand. The resurgence of COVID-19 cases globally, coupled with the new contagious strains seen to-date, may mean that international travel could stay weak for a prolonged period"¦ However, we think that the improving domestic demand seen todate, should it be sustained, could be sufficient allow a rebound in 2H21.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
