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Japan Retail Dips Further in September; -8.7% Y/Y

MNI (Singapore)
  • Japanese retail sales fell for the seventh consecutive month in September by 8.7% on a yearly basis, following the 1.9% y/y decline registered in August.
  • General merchandise sales fell 24.4% y/y, quicker than the previous 12.2% y/y fall, marking the largest monthly drop over the last four months.
  • Sales of fabric apparels and accessories dropped by 23.5% y/y after falling 17.7% y/y August.
  • Sales of food and beverages increased 1.4% y/y in September, slower than the 2.4% growth in August.
  • Fuel sales, another key driver, fell 8.0% y/y after the previous 6.9% y/y fall.
  • Sales of machinery and equipment registered a sharp fall of 24.4% y/y in September, almost wiping off the growth seen in the last three months.
  • On a monthly basis, retail sales edged down 0.1% in September, down sharply from the previous 4.6% increase.

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