RGM revises 4Q retail sales growth rate estimate

Crowd and traffic can be seen are back at certain part of Kuala Lumpur, especially in Bukit Bintang. —SAMUEL ONG/The Star

PETALING JAYA: The Retail Group Malaysia (RGM) has revised down its growth rate estimate in retail sales for the fourth quarter of 2023 (4Q23) from the initial 3% in September 2023 to a more conservative 2.1%.

This downward revision is in-line with the 2.1% year-on-year (y-o-y) growth prediction by the Malaysia Retailers Association (MRA) and Malaysia Retail Chain Association (MRCA) for the same period, highlighting a more cautious outlook by RGM.