Retail trade in Malaysia increased by 6.7 percent year-on-year in August 2019, easing from a 7.1 percent rise in the prior month. This was the weakest yearly growth in retail trade since October 2015, with sales growth easing for other goods (7.7% vs 8.2% in July), other household equipment (6.2% vs 6.6%), information and communication equipment (3.0% vs 3.3%), automotive fuel (2.9% vs 3.2%), retail sales in non-specialised stores (7.8% vs 8.1%), and food, beverages and tobacco (9.0% vs 10.5%).Meanwhile, sales growth accelerated for both cultural and recreation goods (8.2% vs 7.8%) and retail sale via stalls and markets (8.4% vs 7.7%). Also, wholesale trade advanced softer (6.3% vs 6.6%). On the other hand, sales of motor vehicles rebounded (1.1% vs -1.7%). On a monthly basis, retail trade fell 0.2 percent in August, following an 1.1 percent gain in July. Retail Sales Yoy in Malaysia averaged 9.69 percent from 2013 until 2019, reaching an all time high of 14.80 percent in August of 2018 and a record low of 5.90 percent in July of 2015.
Retail Sales Yoy in Malaysia is expected to be 8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales Yoy in Malaysia to stand at 6.00 in 12 months time. In the long-term, the Malaysia Retail Sales YoY is projected to trend around 6.90 percent in 2020, according to our econometric models.