Singapore Consumer & Retail Q1 2019
The consumer outlook for Singapore remains bright in 2019 as private consumption growth outstrips GDP growth andthe consumer market is buoyed by wage growth and low levels of unemployment. We do caution that slowing economic growth,the result of US-China trade tensions and rising interest rates, along with pickup in imported inflation, will weigh on consumersentiment and cap spending. This has been reflected in retail sales which entered negative growth territory in 2018 and will likelyremain tepid over 2019.
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