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Article: Retail sales set to hit RM65b this year
- Article from:
- New Straits Times
- Article date:
- July 19, 2007
- Author:
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Vasantha Ganesan
New Straits Times
07-19-2007
Retail sales set to hit RM65b this year
Byline: Vasantha Ganesan
Edition: Main/Lifestyle
Section: Business Times
Type: News
MALAYSIA'S retail sales may grow 10 per cent this year, which is faster than expected as consumers spend more and tourists arrivals increase.
The initial forecast was a growth of eight per cent.
A two per cent rise translates into an extra RM1 billion or a total of RM65.45 billion spent on items ranging from jewellery, food and clothes to electronic items. Last year, retail sales grew by 8.4 per cent with Malaysians and tourists spending some RM59.5 billion. Retail sales exclude big ticket items like cars and houses.
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