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Financial News: Singapore Retail Sales Growth Improves In April

Singapore Retail Sales Growth Improves In April

06/12/2017 - 01:58:00 (RTTNews)

(RTTNews) - Singapore retail sales grew at a faster pace in April, the Department of Statistics showed Monday.

Retail sales advanced 2.6 percent year-on-year, following March's 2 percent increase. Sales were forecast to grow 2.5 percent.

Excluding motor vehicles, retail sales advanced 4.9 percent in April, much faster than the 0.5 percent increase seen in March.

On a monthly basis, retail sales rebounded 1.6 percent in April after easing 0.4 percent in the previous month. The pace of growth was slightly faster than the 1.5 percent rise economists had forecast.

Department store sales surged 12.1 percent and supermarket sales gained 1.9 percent. At the same time, sales of motor vehicles declined 9.4 percent.

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