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Singapore Retail Sales Rebound In March

Singapore Retail Sales Rebound In MarchRetail sales rose by 4.7% in March this year as against that of February. According to a release made by the Department of Statistics on Friday, the retail sales, as against that of last year, were higher by 0.8%.

Quite prominent growth was recorded in their sales by motor vehicles retailers, of 33.9% in March as against its previous month.

Even the sales of petrol service stations as well as furniture and household equipment went up by 3.1% and 2.8% respectively, further reported by the release.

The Singapore retail sales in the month of March rose by 0.8% on a year-on-year basis, as against the 11.8% on-year decrease in the month before that, weighed down by a reduction in the sales of auto.

Except auto sales, the retail sales increased by 7% on a year-on-year basis.

Meanwhile, solely the auto sales declined 15.3% on-year.

Further, the food and beverage sales increased by 6.6% on a year-on-year basis in March, while on a monthly basis, it rose by 2.7%.

Food & beverages, watches & jewellery as well as petrol service stations retailers registered double-digit growths ranging from 12.9% to 17.8% in March this year as against March 2010.