Economic Buzz: Retail Sales In Singapore Bounce Higher In April

5 May 2022 , 02:51 PM

Singapores retail sales recovered strongly in April as most industries marked sharp growth, especially in the computer and telecommunications equipment segment, data from the Department of Statistics showed on Thursday. Retail sales climbed 8.7 percent year-on-year in March, in contrast to a 3.5 percent fall in February. Singapore lifted Covid-19 restrictions in April and this is likely to boost sales in coming months. Online retail sales accounted for 14.9 percent of total sales value in March, which was higher than the 13.5 percent recorded in February. On a monthly basis, retail sales rebounded sharply by 7.5 percent in March, following a 1.5 percent drop in February. Powered by Commodity Insights