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Japan Nov Retail Sales +2.6% Y/Y; 9th Monthly Rise

MNI (Singapore)
  • Japanese retail sales rose 2.6% y/y in November, following the 4.4% y/y growth reported last month, marking the ninth monthly rise.
  • On a monthly basis, retail sales fell 1.1%, down from the 0.2% growth in October.
  • General merchandise sales picked up 2.9% y/y, decelerating from the 6.6% y/y increase last month, while sales of fabric apparels and accessories fell 8.0% y/y, comparing with increasing 4.6% y/y in October.
  • Sales of food and beverages increased 1.4%, unchanged from last month.
  • Fuel sales, another key driver, dropped 2.6% y/y, compared with the previous 1.6% y/y growth.
  • Sales of machinery and equipment dropped 2.2% y/y, after dropping 1.0% y/y in October.

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