Hit a three-month high in October amid resilient domestic demand; growth outlook steady
Distributive trade sales grew 5.5% YoY (Sep: 3.8%), reaching a three-month high, indicating a strong start for the final quarter as domestic demand remained resilient.
- MoM growth rebounded to 1.3% (Sep: -0.7%) to a three-month high.
- Sales value (RM150.1b; Sep: RM148.2b): expanded to a record high, surpassing the RM150.0b mark for the first time.
A broad-based expansion led by strong retail trade
- Motor vehicles (2.7%; Sep: -1.0%): rebounded due to higher sales of maintenance & repair (20.7%; Sep: 20.6%) and parts and accessories (9.8%; Sep: 8.5%). However, weak motor vehicle sales (-3.9%; Sep: -10.3%) capped the recovery, reflecting lower unit sales in October (69.9k units; Oct 2023: 76.2k).
- Wholesale trade (4.8%; Sep: 3.6%): rose to a three-month high, supported by strong expansion in food, beverages & tobacco (8.9%; Sep: 7.9%), followed by agriculture, raw material and live animals (7.9%; Sep: 4.0%) and a slight rebound in other specialised wholesale (0.9%; Sep: -2.6%).
- Retail trade (7.1%; Sep: 5.5%): growth rose to a four-month high due to higher growth in non-specialised stores (8.5%; Sep: 6.2%) and other goods in specialised stores (8.4%; Sep: 5.7%)
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