Singapore Retail Sales Decline Unexpectedly In April

  @ibtimes on

RTTNews - Singapore's retail sales dropped a seasonally adjusted 3.1% month-on-month in April, the Department of Statistics said Monday. This follows a 5% fall in March. Economists expected an increase of 2%.

Excluding motor vehicles, sales grew 1.1% in April compared to a 3.5% rise in March.

Year-on-year, retail sales slipped 11.7% in April, faster than a 7.2% decline in the preceding month. Excluding motor vehicles, sales dropped 4% after falling 6.8% in March.

Meanwhile, catering trade fell a seasonally 0.2% on a monthly basis, and was down 2.6% from the previous year in April.

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