In March, Malaysia saw its strongest retail sales growth in almost a year according to data from the national statistics office released on Thursday. There was an annual growth of 7.1% in the value of retail sales, which is a more rapid increase than the 5.8% recorded in February.
This was the most significant increment since April 2023 when sales surged by 12.9%. Retail sales in non-specialized stores rose by 8.4% from the previous year, while sales of other goods in specialized stores saw an increase of 10.9%.
Additionally, the data showed a 4.0% year-on-year growth in wholesale trade for March, slightly less than February's increase of 5.2%. Sales of motor vehicles increased by 3.2% at the start of the first quarter, which is a slower pace than the 5.4% rise reported the month prior.