Consumer spending to continue growing

Retail spending patterns are expected to shift slightly from pre-pandemic years, especially on information and communications technology (ICT) and household items, thanks to remote working and learning arrangements.

PETALING JAYA: Consumer spending in Malaysia is set to stay on an upward trajectory this year, underpinned by significantly high vaccination rate, improving labour market, fiscal incentives and stable inflationary pressure.

MIDF Research said it expects private consumption and the services sector to contribute positively towards gross domestic product in the fourth quarter (Q4) of 2021.