Domestic Retail Trade Expected To Grow 5% This Year: Kenanga
Domestic Retail Trade Expected To Grow 5% This Year: Kenanga
As of 7MCY24, Malaysia's distributive trade sales increased by +6.0% (2023: +7.7%), supported by +9.3%yoy rise in motor vehicle sales (2023: +12.3%) and continued increases by +6.3% (2023: +9.0%) in retail trade and +4.8%yoy (2023: +5.2%yoy) in wholesale trade.Malaysia's domestic spending increased sustainably as the overall distributive trade expanded faster at +6.7%yoy in Jul-24, growing for the 34th consecutive month since Oct-21. The continued expansion reflected a more encouraging sales performance for motor vehicles (+12.2%yoy) and wholesale trade (+5.5%yoy), and sustained rise in retail trade albeit at relatively moderate pace.
7月24日，整體分銷貿易同比增長6.7％，自10月21日以來連續第34個月增長，馬來西亞的國內支出持續增長。持續擴張反映了機動車（同比增長12.2％）和批發貿易（同比增長5.5％）的銷售表現更加令人鼓舞，以及零售貿易的持續增長，儘管增速相對溫和。
Looking at the seasonally-adjusted data, the stronger growth in volume of distributive trade by +5.3%yoy (Jun-24: +4.3%yoy) was particularly attributable to a rebound in motor vehicle sales (+8.7%yoy; Jun-24: – 0.6%yoy) and stronger growth in wholesale trade (+5.1%yoy; Jun-24: +3.1%yoy).
從經季節性調整的數據來看，分銷貿易額同比增長5.3％（6月24日：同比增長4.3％），這尤其歸因於機動車銷量的反彈（同比增長8.7％；6月24日：—0.6％）和批發貿易的強勁增長（同比增長5.1％；6月24日：同比增長3.1％）。
Kenanga commenting on the latest figures released by the Department of Statistics said it continues to expect the positive labour market conditions and higher tourist arrivals, as well as the flexibility to tap retirement fund and cash assistance from the government, will underpin positive outlook for the distributive trade in the coming months. However, rising cost of living and pessimistic consumer confidence could affect future spending plans, which may be influenced by the government's plan to further rationalise subsidy allocations.
凱南加在評論統計部發布的最新數據時表示，它繼續預計，積極的勞動力市場狀況和更高的遊客人數，以及利用政府退休基金和現金援助的靈活性，將支撐未來幾個月分銷貿易的積極前景。但是，生活成本上漲和悲觀的消費者信心可能會影響未來的支出計劃，這可能會受到政府進一步合理化補貼分配計劃的影響。
As of 7MCY24, Malaysia's distributive trade sales increased by +6.0% (2023: +7.7%), supported by +9.3%yoy rise in motor vehicle sales (2023: +12.3%) and continued increases by +6.3% (2023: +9.0%) in retail trade and +4.8%yoy (2023: +5.2%yoy) in wholesale trade.
截至 7MCY24，馬來西亞的分銷貿易銷售額增長了6.0％（2023年：+7.7％），這得益於機動車銷量同比增長9.3％（2023年：+12.3％），零售貿易持續增長6.3％（2023年：+9.0％），批發貿易同比增長4.8％（2023年：同比增長5.2％）。
The house said it maintains its projection that the domestic retail trade will grow at +5.0% this year (2023: +9.0%yoy), reflecting sustained expansion in consumer spending backed by rising income and employment, recovery in tourist arrivals and policy measures such as higher allocation for cash assistance to B40. Meanwhile, the flexible access to some of retirement funds and timely shift to targeted subsidies may result in more encouraging spending outlook, which mitigated the inflationary effects from policy changes.
衆議院表示，它維持其預測，即今年國內零售貿易將增長5.0％（2023年：同比增長9.0％），這反映了消費支出的持續擴張，這得益於收入和就業的增加、遊客的復甦以及增加對B40的現金援助撥款等政策措施。同時，靈活獲得部分退休基金和及時轉向定向補貼可能會帶來更令人鼓舞的支出前景，從而減輕政策變化對通貨膨脹的影響。
Kenanga said it is also wary that consumers will continue to express pessimism and curtail spending plans as they are more focused to rising price levels.
凱南加說，它還擔心消費者會繼續表示悲觀情緒並削減支出計劃，因爲他們更加關注價格水平的上漲。
譯文內容由第三人軟體翻譯。
