-- Boosted by vehicle sales, Singapore retail activity logged a strong performance in March, as reported by Statistics Singapore on Tuesday.
The city-state's retail sales grew 4.8% year on year in March and rose a seasonally adjusted 3.7% from the preceding month, reported officials.
Motor vehicle and part sales in March in Singapore grew by 12.9% on year in March, and expanded by 6.1% on month.
Computer and telecommunications equipment sales increased by 11.9% on year in March, and by 6.2% from February, added Statistics Singapore.
In contrast, Singapore, food and alcohol sales fell by 6% on year and by 5.1% from the previous month, according to official figures.
Also lagging a bit were furniture and household equipment sales, off 1.9% on year in March, though up 0.2% from February.
Singapore's first-quarter performance points to "resilient" consumer activity, supported by labor market conditions and tourism, said Chua Han Teng, senior economist with Singapore-based DBS Bank, reported the Singapore-based The Straits Times.
Nevertheless, the city-state's retail outlook is "clouded by heightened global economic uncertainty stemming from the Middle East conflict," with consumer spending likely to turn more cautious as inflation weighs on purchasing power and labor market conditions soften, added the DBS economist.