Slower retail sector likely in second quarter

Retail Group Malaysia has revised its growth expectations to 3.6% from 4%, on the premise of a likely more subdued second quarter.

PETALING JAYA: As more Malaysians feel the pinch of inflation and the rising cost of living, many have been forced to re-evaluate spending habits and practise belt-tightening where possible.

Surprisingly, the first quarter of this year (1Q24) fared well, according to the Malaysia Retail Industry Report 2024, with the consumer sector registering a 7.8% growth compared to the same period of last year.