Retail Trade Spending Growth At Year High

According to the figures, the aviation industry is on a gradual but steady recovery path, according to a statement from Mavcom

Retail Trade Spending Growth At Year High

Malaysia’s distributive trade sales growth hit 1-year high, expanding by +19.9%yoy in May-22, the biggest gain in a year.

Most significantly, retail spending rose in a strong and continuous expansion by +29.9%yoy and +5.1%mom.

Sales growth of motor vehicles and wholesale grew by double digit rate of +20.1%yoy and +11.7%yoy.

Airports growth

Malaysia airports passenger traffic jumped +64.8%mom in May-22. Thanks to international borders reopening on 1st Apr-22, we saw passenger traffic in all Malaysia’s airports increased to 4.6m in May-22 (Apr-22: 2.8m).

Most significantly, international passenger surged by +76.9%mom with Asean and non-Asean rose by +121.8%mom and +36.9%mom respectively.

Domestic passenger remained firm, growing at 6-month high  by +65.9%mom.

According to the figures, the aviation industry is on a gradual but steady recovery path, according to a statement.

Domestic travellers drove passenger traffic significantly, accounting for 88.8 percent of total traffic in the first quarter, according to the commission.

"We forecast retail trade sales to expand by +10.5% for 2022. Malaysia’s consumer spending is expanding strongly as reflected in retail trade sales growth of +15.8%yoy in 5MCY22.

"Underpin by improving labour market, stable inflationary pressure and fiscal incentives, private consumption is projected to grow by +7.2% for 2022, rebound from +1.9% in 2021 and -4.2% in 2020," says MIDF.