Singapore shoppers push spike in retail sales
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Shoppers in Singapore kept the tills ringing in May to push retail sales to the highest rise in nine months, as they splashed out more on cars, smart phones and other goods.
Retailers rang up 3.2 per cent more in sales in May over the same month last year, according to the latest retail sales index released by the Statistics Department Monday.
This reversed a 0.3 per cent decline in sales in April.
The hike in consumer spending also helped support the wider economy, which grew a stronger-than-expected 3.7 per cent in the second quarter over a year ago.
The unexpected growth was partly boosted by a robust performance in the wholesale and retail trade sector, the Trade and Industry Ministry reported last Friday.
