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Japan Feb Retail Sales -0.8% Y/Y; 1st Drop In 5 Mths

JAPAN DATA
MNI (Singapore)
  • Japanese retail sales fell 0.8% y/y in February, converting the 1.1% y/y growth reported last month, marking the first drop in five months.
  • On a monthly basis, retail sales dropped 0.8%.
  • General merchandise sales dropped 1.6% y/y, down from the previous 5.6% y/y gain, while sales of fabric apparels and accessories decreased 2.7% y/y after rising 3.8% y/y in January.
  • Sales of food and beverages edged down 0.6% y/y, narrowing from the previous 0.7% y/y decrease.
  • Fuel sales, another key driver, rose 21.6% y/y, slower from the previous 22.8% y/y growth.
  • Sales of machinery and equipment registered a fall of 8.3% y/y, dipping further from last 4.4% y/y drop in January.
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