The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Malaysia's retail sector bore the brunt of the introduction of Goods and Sales Tax in 2015 and
we believe this, combined with external headwinds slowing down Malaysia's economy, will continue to
weigh on consumer demand throughout the rest of 2016 and into early 2017. Nonetheless, rapidly rising
household incomes, strong labour market as well as accommodative monetary policy will support sustained
expansion of the retail sector.
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? During 2016-2020, we forecast headline household spending to increase at an average rate of 8.4% per
annum, reaching a total figure of USD254bn.
? Rising from a low base, education will enjoy the strongest spending growth rate, forecast at 9.9%. On the
other side of the spectrum, housing and utilities will demonstrate the weakest growth figure, forecast at
7.3% during 2016-2020.
? During Q1 2016, total retail sales in Malaysia increased by 7.9% (year-on-year), led by food & drink and
recreation & culture categories, according to the Department of Statistics, Malaysia.