Financial News: Malaysia Retail Sales Growth Strongest In 11 Months

Malaysia Retail Sales Growth Strongest In 11 Months

05/09/2024 - 02:54:00 (RTTNews)

(RTTNews) - Malaysia's retail sales growth accelerated to the strongest level in nearly a year in March, data from the statistical office showed on Thursday.

The value of retail sales logged an annual growth of 7.1 percent in March, faster than the 5.8 percent gain in February.

Further, this was the biggest increase since April 2023, when sales had risen 12.9 percent.

Retail sales at non-specialised stores grew 8.4 percent from last year, and sales of other goods in specialised stores advanced by 10.9 percent.

Data also showed that wholesale trade grew 4.0 percent year-on-year in March, following February's 5.2 percent increase.

Sales of motor vehicles were 3.2 percent higher at the start of the first quarter, though slower than the 5.4 percent climb a month ago.

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