Generally Positive On Retail Short Term

Singaporean retail sales fell by 2.3% year-on-year (y-o-y) in March 2010, implying further woes for the recession-recovering economy. However, when stripped of the effect of automotive sales, the retail value index actually rose by 7.1% y-o-y. A sixth consecutive month of retail, excluding motor vehicle, growth is in keeping with our positive outlook for the Singaporean economy in 2010 and our positive short-term view for Singaporean retail which we see being supported by an improving job market and the ongoing recovery of the tourism

To read the full article, please sign in or take a free trial.