15 July 2025 Emerging Asia Monitor Malaysian retail sales still struggling to return to pre-pandemic levels

Malaysia’s retail sales are still weak; sales volumes registered no month-to-month increase in May.
Real wage growth has been stagnant since the pandemic, weighing on disposable incomes.
Q2 GDP will get no lift from consumption, but the recent rate cut could help Q3

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence