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Japan Jul Retail Sales Slowed; -2.8% Y/Y

JAPAN DATA
MNI (Singapore)

Japanese retail sales fell for the fifth month in July by 2.8% on a yearly basis, quicker than the 1.3% y/y decline registered in June.
General merchandise sales fell 12.3% y/y following the 11.1% y/y drop recorded in June, marking the 10th monthly fall.

Sales of fabric apparels and accessories dipped further by 18.9% y/y after falling 6.3% y/y last month.
Sales of food and beverages increased 1.3% y/y in July, decelerating from the 2.7% increase last month.
Fuel sales, another key driver, fell 12.5% y/y, slower than the previous 14.8% y/y fall.

Sales of machinery and equipment increased 8.0% y/y after rising 16.2% y/y in June.
On a monthly basis, retail sales edged down 3.3% in July, sharply lower than the previous 13.1% gain.

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