PETALING JAYA: The consumer sector is bearing the brunt of the movement control order (MCO) in Malaysia, which is now entering the third week as the nation battles against the coronavirus (Covid-19) pandemic.
Consumer spending has halved throughout the period, resulting in most categories recording steep declines, except for food and beverage (F&B), communications and education.
A survey by the Department of Statistics Malaysia (DOSM) found that the average monthly household expenditure has fallen 55% from RM6,317 to RM2,813 while total household expenditure, excluding non-consumption expenses such as loan repayments, savings, income tax deductions, contributions to the Employees Provident Fund and Social Security Organisation (Socso), dropped 48% from RM4,033 to RM2,110.
...