Retail sales inched up by 2.6% in April

Thanks to the boost in watches and jewellery sales.

Singapore's flailing retail sales saw new hope in the watches and jewellery segment and grew 2.6% in April.

The said segment sparked a 14.3% growth for the past quarter. Retail sales were also boosted by the strong sales of petrol service stations.

Whilst motor vehicles sales have been the source of strength of the overall retail sales index in the past months, the segment recorded a decline in April, falling 6.4% YoY. Excluding vehicle sales, retail sales would have grown 4.9%.

Retail sales of department stores, medical goods & toiletries, wearing apparel & footwear, recreational goods, computer equipment, supermarkets, and optical goods & books registered growths between 0.5% and 7.6% over the same period.

Conversely, sales of mini-marts, food retailers, and furniture & household equipment, saw declines of 0.2% to 5.7%.

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