SINGAPORE – Retail sales in Singapore fell in April, snapping three months of gains and coming in worse than expected, as tourist arrivals cooled.
Takings at the till dropped 1.2 per cent in April from the year-ago period, reversing a revised 2.8 per cent growth in March, data from the Department of Statistics showed on June 5.
April’s result was below estimates by private-sector economists, who expected retail sales to grow 1.9 per cent year on year in a Bloomberg poll.
Tourist arrivals slid in April, following the high in March drawn by the Taylor Swift concerts, which may also have dampened retail sales, said Maybank economist Chua Hak Bin.
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The lower tourist…
