Singapore retail sales up 4.5% in March, easing from February’s double-digit growth

SINGAPORE’s retail sales rose 4.5 per cent year on year in March, slowing from the previous month’s 12.6 per cent rise, data from the Department of Statistics Singapore (SingStat) showed on Friday (May 5).

On a month-on-month seasonally adjusted basis, retail sales were up 2.2 per cent, easing from the 4.1 per cent growth in February.

March’s estimated total retail sales value was S$4.1 billion, with online sales accounting for 13 per cent.