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Japan Feb Retail Sales +6.6% Y/Y; 12th Monthly Rise

JAPAN DATA
MNI (Singapore)
  • Japanese retail sales rose 6.6% y/y in February, following the 5.0% y/y growth reported last month, marking the twelfth monthly rise.
  • On a monthly basis, retail sales rose 1.4%, lower from last 1.9% growth in January.
  • General merchandise sales picked up 10.3% y/y, faster than the 8.4% y/y increase last month, while sales of fabric apparels and accessories rose 9.9% y/y, expanding from the increase of 4.1% y/y in January.
  • Sales of food and beverages increased 5.1% y/y, following the 5.0% y/y growth last month.
  • Fuel sales, another key driver, kept unchanged, compared with the 0.2% y/y decrease made in January.
  • Sales of machinery and equipment increased 1.0% y/y, converting from last 3.3% y/y drop in January.
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