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Singapore retail sales up 2.1 per cent year on year in March

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SINGAPORE retail sales saw a muted increase of 2.1 per cent in March 2015 compared to the same period last year, bringing the total Singapore retail sales value to S$3.4 billion, similar to that in March 2014.

SINGAPORE retail sales saw a muted increase of 2.1 per cent in March 2015 compared to the same period last year, bringing the total Singapore retail sales value to S$3.4 billion, similar to that in March 2014.

Excluding motor vehicles, overall retail sales declined 3.2 per cent.

Aside from the sales of motor vehicles, watches and jewellery, and department stores, which increased by 40 per cent, 2.4 per cent and 0.3 per cent year on year respectively, all other industries saw declines in sales.

Petrol service station takings posted the sharpest decline of 21.4 per cent, while most other industries slid by between 0.2 and 8.2 per cent.

On a month-on-month basis, sales of motor vehicles, food and beverages, and mini-marts and conveniences stores registered significant increases of between 12.9 per cent and 37.1 per cent, while sales of petrol service stations and recreational goods also went up by 4.9 per cent and one per cent respectively.

All other industries saw declines of between 0.4 per cent and 10.4 per cent on a month-on-month basis.