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MNI 5 THINGS: Japan Oct Retail Sales Solid On Fuel, Medicine

MNI (London)
     TOKYO (MNI) - Japan's retail sales posted a 12th straight year-on-year rise
in October, boosted by higher energy costs and strong demand for medicines and
toiletry goods, preliminary data released Thursday by the Ministry of Economy,
Trade and Industry (METI) showed.
     The key points from the latest retail sales data:
     - Retail sales rose 3.5% on year in October for the 12th straight
year-on-year rise, beating the MNI median economist forecast for a gain of 2.7%.
The pace of growth accelerated from the 2.2% rise in September, almost equalling
the recent peak of +3.6% seen in December 2017.
     - Fuel sales continued to grow quickly, up 14.7% y/y in October after
+13.2% in September as year-on-year gains in energy prices continue. Sales of
medicine and cosmetics surged by 6.2% y/y in October from +0.1% in September.
     - Sales for food and beverages decelerated to 1.9% y/y, compared with a
2.3% gain in September, while apparel sales fell by 0.4% in October, back into
negative territory again after rising for two months in August (+0.7%) and
September (+1.5%).
     - On the month, retail sales rose 1.2% on a seasonally adjusted basis in
October for the fifth straight m/m rise after +0.1% in September. 
     - METI maintained its view that retail sales are "picking up gradually",
upgrading the view from its previous "flat".
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAJDS$,MAUDR$,MAUDS$,M$A$$$,M$J$$$,M$U$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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