Singapore retail sales up 2.7% in March, fuelled by higher F&B spending, concerts

Customers at a restaurant in the Marina Bay area in Singapore, on Thursday, April 11, 2024. Singapore's central bank kept its monetary policy unchanged for a fourth straight time on still-elevated price pressures, a decision seen by some economists as indicative that tight settings will probably stay in the months ahead. Photographer: Ore Huiying/Bloomberg

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.

Takings at the till increased 2.7% in March from the year-ago period, slowing from a revised 8.6% gain in February, data from the Statistics Department showed on May 3.