KUALA LUMPUR (Nov 11): Consumer spending in Malaysia picked up in September, with wholesale and retail trade growing at its fastest pace in 14 months, official data showed.

Wholesale and retail trade expanded 6.6% in September when compared to the same month in 2024, the Department of Statistics Malaysia (DOSM) said in a statement. The rate is the highest since July 2024 and is markedly higher than August’s 4.9% year-on-year growth. 

On a month-on-month basis, distributive trade rose 0.9% in September.

The wholesale sub-sector recorded RM71.1 billion, a 6.9% year-on-year increase, driven by stronger sales of petrol, diesel and lubricants, fertilisers and agrochemical products, as well as logs, sawn timber, plywood, veneer and related products.

The retail trade sub-sector meanwhile was up 7% to RM68.9 billion, as Sumbangan Asas Rahmah cash aid boosted sales in provision stores, supermarkets, mini markets, as well as department stores.

Travel throughout the month, particularly in conjunction with school and public holidays, also lifted retail sales of automotive fuel.

The motor vehicles sub-sector expanded 4.3% to RM18 billion, as sales of new vehicles rose and that of parts and accessories climbed. Maintenance and repair spending also rose.

After adjusting for price changes, the volume index of wholesale and retail trade registered a 5.4% growth in September, against the same month in 2024. However, the seasonally adjusted volume index decreased by 0.6% on month-on-month basis.

The index for retail sales over the internet was 9.5% higher year-on-year in September, when compared the same month last year, thanks largely to the 9.9 online sale event which spurred consumer demand and contributed to higher transaction volumes across e-commerce platforms.