Singapore Retail Sales Growth Eases In March

(RTTNews) - Singapore's retail sales expanded for the second straight month in March, data from the Department of Statistics showed on Tuesday.

Retail sales climbed 4.8 percent year-on-year in March, though slower than the sharp 8.3 percent rebound in February.

Sales of recreational goods alone grew 13.1 percent annually in March, and those of motor vehicles, parts, and accessories were 12.9 percent higher. Meanwhile, sales at department stores declined 5.7 percent, and sales of food and alcohol decreased by 6.0 percent.

Excluding motor vehicles, parts, and accessories, retail sales advanced 3.3 percent in March, following an 11.3 percent growth in February.

The online sales proportion was 15.7 percent in March compared to 14.1 percent growth in the prior month.

On a monthly basis, retail sales rebounded 3.7 percent versus a 4.3 percent decline in February.