Retail sector may slow down by year end, says group


Noel Achariam

Shopping malls are seeing high foot traffic but consumer purchasing power may have dropped due to the higher cost of living, says Retail Group Malaysia managing director Tan Hai Hsin. – The Malaysian Insight file pic, September 18, 2022.

THE possibility of a recession next year is high despite retail sales having returned to pre-Covid 19 levels, said the Retail Group Malaysia (RGM).

The group said the slowdown in major global economies will affect the export growth of Malaysia, in turn affecting take-home pays and consumer spending in the country.


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