Malaysia Retail Sales Growth Eases Slightly To 22.7%

(RTTNews) - Malaysia's retail sales growth eased for the sixth straight month in December, though marginally, data from the statistical office showed on Wednesday.

The value of retail sales logged an annual growth of 22.7 percent in December, following a 22.8 percent gain in November.

Further, this was the slowest rate of growth since April 2022, when sales had risen 20.9 percent.

Data also showed that wholesale trade advanced 4.7 percent year-on-year in December, slower than November's 5.6 percent increase.

Sales of motor vehicles were 20.3 percent higher at the end of the year, following a 19.8 percent climb in November.

During the fourth quarter, the total value of retail sales advanced 19.3 percent over the previous quarter.

Separate official data showed that the construction sector expanded strongly by 15.7 percent in the fourth quarter versus a 23.2 percent surge in the third quarter. 

In 2022, total construction activity rebounded 8.8 percent compared to a 5.0 percent contraction in 2021.