What drove the 2.5% month-on-month slip in wholesale-retail sales?

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The Wholesale Trade Sub-Sector Contraction Drove the Month-on-Month Sales Slip

The month-on-month sales value for Malaysia's wholesale and retail trade experienced a 2.5% decline in February 2022. This decrease was primarily attributed to a significant contraction within the wholesale trade sub-sector, which saw a 4.7% reduction in its sales value.
Wholesale Trade Contraction Led the Decline

The overall month-on-month decrease in sales was directly linked to the performance of the wholesale trade sector. This sub-sector experienced a notable downturn, resulting in a 4.7% slip in its sales value.
Retail Trade Sub-Sector Showed Positive Year-on-Year Growth

In contrast to the month-on-month decline, the retail trade sub-sector demonstrated a positive year-on-year performance. It recorded an increase of 10.2%, contributing RM4.5 billion to reach a total of RM48.8 billion. This growth was supported by various categories, including non-specialised stores, automotive fuels, household goods, and specialised stores.
Overall Year-on-Year Sales Increased

Despite the month-on-month dip, Malaysia's wholesale and retail trade sales saw an overall increase of 8.5% year-on-year in February 2022, reaching RM117.2 billion. This positive annual performance was driven by the robust growth in the retail trade sub-sector, as well as expansions in certain segments of the wholesale and motor vehicle sub-sectors.

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What drove the 2.5% month-on-month slip in wholesale-retail sales?

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