Retail sales seen rising to RM108.3bil this year
Growth rate: A file picture showing people shopping at Aeon Ipoh Falim. RGM says department store cum supermarket operators are expected their bujsinesses to maintain a 4.4% growth rate in the first quarter of this year.
KUALA LUMPUR: Retail Group Malaysia (RGM) forecasts a 4.5% growth in retail sales to RM108.30bil in 2019, despite a lacklustre start in January-February, due to the Hari Raya Aidilfitri festivities and an increase in economic activities in the later part of the year.
In its retail industry report issued yesterday, RGM said in the first two months of this year, retail sales were lacklustre despite the Chinese New Year celebration.
For the first quarter, it expects the retail industry to recover and expand by 3.1%, with pharmacy and personal care expanding the fastest by 12.7%, followed by department stores at 7.6%.
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