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Asia300

Singapore retail sales show surprise rebound in April as e-commerce gains ground

At Visa, online payments form 25% of card spending, up from 10% in 2012

SINGAPORE (Nikkei Markets) -- Retail sales in Singapore staged a surprise rebound in April even as online spending continued to grow, signaling improving consumer sentiment in a recovering economy.

Data released by the Department of Statistics on Monday showed retail sales, excluding motor vehicles, rose 4.9% in April from a year ago, led by increased sales of watches and jewelry and as department stores and petrol stations reported better performances.

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