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Japan Aug Retail Sales -3.2% Y/Y; 1st Drop In 6 Mths

JAPAN DATA
MNI (Singapore)
  • Japanese retail sales fell 3.3% y/y in August, converting the 2.4% y/y growth reported last month, marking the first drop in 6 months.
  • On a monthly basis, retail sales dropped 4.1% in August, after rising 1.0% in July.
  • General merchandise sales dropped 9.0% y/y, compared with the previous 1.0% y/y gain, while sales of fabric apparels and accessories decreased 12.1% y/y after falling 3.1% y/y in July.
  • Sales of food and beverages edged down 2.4% y/y in August, lower than the previous 1.4% y/y gain.
  • Fuel sales, another key driver, rose 12.9% y/y, slower from the previous 27.8% y/y growth.
  • Sales of machinery and equipment registered a fall of 13.0% y/y, after dropping 2.8% y/y in July.
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