24 July 2025 Emerging Asia Monitor Taiwan's retail sales shrink in Q2: downside risk to our 6.4% GDP call

Taiwan’s retail sales were worse than we expected in June, as they declined by 2.9% year-over-year.
This spells trouble for consumption in next week’s Q2 GDP; overall growth should still come in strong.
Malaysian inflation fell yet again, to 1.1%, while the government has announced more fuel subsidies.

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