The Asia-Pacific region is projected to lead global retail sales over the next five years, even with the Middle East conflict affecting consumer confidence and supply chains. Rising energy prices and tighter financial conditions are noted concerns.

Asia-Pacific is expected to drive global retail sales over the next five years, even as the Middle East conflict is hurting consumer confidence, according to business analysts. The war could continue to weigh on consumer and business sentiment for now due to higher energy prices and supply chain disruption, Anand Ramanathan, Deloitte Asia-Pacific’s retail and consumer products sector leader, said in an interview. “As borrowing costs rise and financial conditions tighten, consumers and businesses...