KUALA LUMPUR, Dec. 12 (Xinhua) -- Malaysia's retail industry achieved a better-than-expected growth rate of 4.9 percent in retail sales in the third quarter, as compared to the same period in 2024, according to the latest Malaysia retail industry report.
Retail Group Malaysia (RGM) said in a statement on Friday that the growth rate was higher than its members' projected growth rate of 2.6 percent in September.
"Several new government policies were implemented during the third quarter of this year. They had a direct impact on consumers' purchasing power and shopping behavior," it said.
For the first nine months, the growth rate of Malaysia's retail industry rose by 2.7 percent, as compared to the same period in 2024.
Members of the association have projected an average growth rate of 5 percent for the fourth quarter.
The RGM also forecasts a 4-percent growth rate for the Malaysia retail industry in 2026, saying the biggest challenges for the industry in the new year will be the rising cost of living for Malaysian consumers as well as the increasing operating costs for retailers. ■