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Market Update: Malaysia Retail Sales Growth Hits Record High

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Market Update: Malaysia Retail Sales Growth Hits Record High

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Market Update: Malaysia Retail Sales Growth Hits Record High
Retail trade in Malaysia surged 56.4 percent year-on-year in April 2021, accelerating sharply from a 10.5 percent rise in the previous month. It was the second straight month increase in retail sales and the strongest growth since the series began in 2013, amid a further economic recovery and a low base effect from last year. Sales increased for other goods in specialised stores (133.5 percent), automotive fuels (120.9 percent), cultural & recreation goods (107.8 percent), and other household equipment (103.4 percent). Also, wholesale trade jumped 43 percent in April, after increasing 1.8 percent in March. At the same time, sales of motor vehicles soared 1,687.8 percent, accelerating sharply from a 40.7 percent surge in the prior month. On a monthly basis, retail trade edged down 1.5 percent in April, reversing from a 1.7 percent rise in March. source: Department of Statistics, Malaysia [/s2If]
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