Retail sector likely to expand by 5.5%

Consumers are expected to adopt a “wait-and-see” approach on the prices of goods and services before resuming their purchases following the implementation of GST.

PETALING JAYA: The retail industry is expected to grow by 5.5% in 2015 from an earlier projected figure of 6%, according to Retail Group Malaysia, a retail research firm.

Its managing director Tan Hai Hsin said the “greatest challenge” that the industry would face in 2015 was consumer spending pursuant to the implementation of goods and services tax (GST) in April.