Singapore Retail Sales Fall Unexpectedly In April

Singapore’s retail sales fell unexpectedly in April, figures from the Department of Statistics showed on Wednesday.

Retail sales declined 1.8 percent annually in April, following a 0.9 percent fall in March. Economists had forecast a rise of 0.3 percent.

Excluding motor vehicles, total retail sales fell 2 percent in April, following a 1.3 percent decrease in the preceding month.

The sales of computer and telecommunications equipment declined 6.7 percent and furniture and household equipment industries fell 6.5 percent in April. Sales of food retailers, optical goods and books industry and department stores decreased between 3.1 percent and 3.5 percent.

On a monthly basis, retail sales rose 0.5 percent in April, slower than 1.1 percent increase in the prior month.