'If you really look at this data, it seems like you can predict tomorrow's GDP.'
Ahead of the country's 3rd quarter gross domestic product (GDP) growth reading tomorrow, this is one of Malaysia's focus data that needs to be carefully considered.
September Retail Sales Data
The country's year-on-year retail trade grew 30% in September, down from the previous month's record of 34.5% as consumer spending eased amid rising costs.
A summary of retail sales data for each sector is as follows:
Non-specialty stores were down 31.9% from 37.1%.
Specialty stores fell 43.$5 from 45.7%.
Sales of household appliances fell 23.1% from 27.9%.
Sales of medium motor vehicles plunged 51.0% from 185.3%.
Wholesale trade contracted 13.3% from 16%.
September Unemployment Data
The number of Malaysians who were unemployed in September fell 3.6% from the same period a year ago at 4.5%, further marking a significant decrease since February 2020.
The unemployment figure is seen to have dropped by 17.1% from last year to 605 thousand while the number of those who are employed increased by 2.9% at 16.63 million.
September Industrial Production Data
The reading of the country's industrial production in September grew 10.8% but fell from 13.5 recorded in the previous month.
Even so, the overall situation shows a 13-month consecutive increase in national industrial production since Covid hit.
Examine the components of industrial production below.
Manufacturing was down at 10.4% from 15.2%.
Electrical and electronic products at 15.5%.
Petroleum, chemicals, rubber and plastic products at 6.5%.
Transportation equipment and other manufacturing products at 21.6%.
Electricity production decreased 4.1% from 9.9%.
Mining production rose 15% from 8%.
Natural gas at 21%.
Crude oil and condensate at 7.2%.
