Singapore’s total retail sales value grew 6.2% y-o-y to $3.5 billion in March, according to figures released by the Department of Statistics (SingStat) on May 5.

While the 6.2% expansion marks the second straight month of growth since February, it missed economists’ expectations of a 7.1% increase y-o-y.

However, the figures are "encouraging", according to OCBC Bank's head of treasury research and strategy Selena Ling.

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