KUALA LUMPUR, Nov 9 — Malaysia’s domestic demand is expected to remain upbeat from the fourth quarter of this year supported by a resilient labour market, easing inflationary pressure, a rise in tourism activities and supportive economic policies, said MIDF Research.
It said in a research note today that retail trade growth is forecast to reach 11.8 per cent this year and 8.1 per cent in 2024.
As for the third quarter of the calendar year 2023, distributive trade sales expanded by 6.8 per cent year-on-year second quarter of the calendar year 2023: +5.7 per cent), signalling a slight improvement in Malaysia’s gross domestic product performance.
Malaysia’s retail trade posted a growth of 5.9 per cent year-on-year in September 2023, slightly lower than the four-month high pace recorded in August 2023.
On a month-on-month basis, non-seasonally adjusted retail trade still grew at a pace of +1.4 per cent.
Overall distributive trade sales rose by 6.5 per cent year-on-year and 0.1 per cent month-on-month.
— Bernama
