Group says cost of living remains biggest challenge for Malaysia's retail industry, projects annual growth rate of 4pc for 2024
KUALA LUMPUR, March 11 -- The Retail Group Malaysia has projected an annual growth rate in retail sales of 4 per cent for this year, a hike of a 0.5 per cent point from the projection made in November last year.
According to the Malaysia Retail Industry Report released in March, the biggest challenge for the Malaysian retail industry is the rising cost of living.
In comparison, the retail industry recorded a growth rate of 2.2 per cent for 2023, which was below market expectations as the projection by Retail Group Malaysia in November was 2.8 per cent.
It said the retail industry contracted in the last quarter of 2023 by 0.2 per cent while retail prices, including food prices, continued to rise.
"The Israel-Hamas war that started in e...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.