Singapore retail sales fall 9% in April over previous year
Published on Jun 13, 2014 1:04 PM
SINGAPORE - Retailers in Singapore had a dismal April, with retail sales dropping 9 per cent over a year ago and 0.7 per cent over March.
A large part of the decline was due to lower motor vehicle sales, which plunged 36.1 per cent in April from the year before, said the Singapore Department of Statistics on Friday.
This was partly because of higher sales in April last year, when loan restrictions on the purchase of used cars were temporarily lifted, it added.
Excluding motor vehicle sales, retail sales in Singapore would have fallen a smaller 1.3 per cent in April over the previous year.
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