Despite this hiccup, economists maintain a positive outlook for the retail sector. But the question is, why so?
Retail sales dipped in March despite expectations surrounding Taylor Swift’s six-day concert series. The numbers took a 1.0% dip month-on-month.
UOB economists observed that food & alcohol, department stores, watches & jewellery, cosmetics, and toiletries & medical goods exhibited good momentum, providing a silver lining in an otherwise subdued landscape.
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