Singapore Economy: Retail Sales Cool as Trade Tensions Linger

Singapore retail sales growth slowed significantly to 1.5% year-on-year in July, down from 4% in June, signaling a cooling in consumer spending momentum. Total retail sales were estimated at $4.4 billion, with online transactions accounting for 15.4% of the total, down from 16.4% in June. While the headline number suggests a broad pullback, the reality is more nuanced — spending momentum has not stalled, but the composition is becoming...