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October 29, 2020 00:16 GMT
Japan Retail Dips Further in September; -8.7% Y/Y
JAPAN DATA
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.
MNI Editorial 4
Lachlan Colquhoun
Lachlan covers the Reserve Bank of Australia and the Australian macroeconomy for MNI from Sydney.
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