Malaysian retail sales plunge 32.5 per cent in April
Malaysian retail trade sales plunged 32.5 per cent year on year in April, according to the Department of Statistics Malaysia (DoSM).
The significant decline occurred as many retailers were heavily affected by the imposition of the Movement Control Order.
Retail sectors contributing to the negative growth included consumer goods in specialist stores, cultural & recreational goods, and household equipment.
Sales of food and beverage rose by a modest 1.9 per cent, which is less than in some other Southeast Asian markets during the Covid-19-related lockdowns and temporary store closures.
Despite the dramatic fall, Malaysian retail sales online in April saw 28.9-per-cent growth year on year, as consumers moved online unable to visit physical stores.
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