Malaysia’s consumer spending and wholesale trade picked up in June thanks to festive celebrations, official data on Friday showed.
Wholesale and retail trade, including vehicle sales, grew 4.8% when compared to the same month last year and totalled RM153 billion in June, according to the Department of Statistics Malaysia (DOSM). That compares to May’s 4.4% year-on-year gain.
On a month-on-month basis, the value of distributive sales contracted 0.9% in June.
The expansion “reflects continued domestic consumption activity, further supported by festive celebration such as Aidiladha, and mid-year school holidays”, said chief statistician Datuk Seri Mohd Uzir Mahidin.
Retail trade rose 5.4% year-on-year to RM67.5 billion on the back of expansion of sales in non-specialised stores such as supermarkets, mini markets, and convenience stores. Cosmetics, clothing, jewellery, and optical goods drove sales growth in specialised stores in June.
Wholesale trade, meanwhile, amounted to RM68.3 billion, up by 5.2% when compared to June 2024, mainly due to higher sales of meat, poultry, eggs, rice, grains, flours, sugars, and bakery products. Household goods also recorded strong growth during the month.
DOSM also highlighted the growing use of digital payment in June with a 71% jump in electronic money transactions. Real-time retail payments platform transactions totalled RM277.2 billion, which the department says highlight the expanding preference for fast and seamless fund transfers.
Financial process exchange transactions rose by 11%, supported by higher online banking usage, while credit card spending remained steady and debit card transactions grew by 3.9%.
“These developments point to the increasing integration of digital payment solutions into everyday transactions, driven by consumer expectations for speed and ease of use in an increasingly digital economy,” DOSM noted.
Online retail sales advanced 5.1% on a year-on-year basis but were just up 1.4% month-on-month after adjusting for seasonal variations.
In June, the motor vehicles sub-sector edged up 0.7% to RM17.1 billion, as sales of vehicle parts and accessories climbed while sales, maintenance, and repair of motorcycles also grew. However, sales of motor vehicles contracted.
A volume index of wholesale and retail trade, which adjusts for price fluctuations, increased 4.4% in June. On a seasonally adjusted month-on-month basis, the volume index dipped 0.6%.
Source: theedgemalaysia