Singapore’s retail sales fell at the fastest rate for 10 years in April, according to reports. Unemployment is rising and consumer spending has plummeted as a result of the economic slump.

Its official statistics department claims the retail sales index dropped 11.7% compared with April 2008, having fallen 7.2% in March.

Footwear and apparel sales fell 6.1%, well above the adjusted 3.1% average decline.

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