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.
But shoppers also held back their spending on other types of items. In particular, watch and jewellery retailers took in 16.3 per cent less revenue in April over a year ago, and 10.9 per cent less in April over March.