Singapore retail sales up in April but continues to lose steam

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Singapore retail sales up in April but continues to lose steam
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With the biggest increases coming from alcohol, cosmetics and toiletries.

Retail sales climbed 3.6 per cent from the same month a year ago, cooling from the 4.5 per cent increase seen in March and a 12.6 per cent jump in February that was partly due to the timing of Chinese New Year.

Of this, online retail sales made up an estimated 12 per cent, lower than the 13 per cent recorded in March. Month on month, April’s overall takings inched up 0.3 per cent from March on a seasonally adjusted basis. This compares with a 2.2 per cent increase from February to March.

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