Singapore's retail sales up but weaker than expected

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http://www.todayonline.com/Hotnews/EDC120615-0000134/Singapores-retail-sales-up-just-2,2-in-April

Singapore's retail sales growth slowed in April, with a 2.2 per cent on-year increase, compared to a revised 8.9 per cent surge in March.

The weaker-than-expected growth was mainly due to a drop in vehicle sales and a slower growth across almost all retail sectors.

Economists had earlier forecast a year-on-year increase in retail sales of about 7 per cent.

On a seasonally adjusted basis, retail sales decreased 0.9 percent in April compared to March.

This was led mainly by a drop in sales of motor vehicles, and furniture and household equipment.