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MNI BRIEF: Japan Aug Retail Sales Post 1st Drop In Six Months

TOKYO (MNI)

Japan's retail sales fell 3.2% y/y in August for the first drop in six months and after a 2.4% gain in July, preliminary data released on Thursday by the Ministry of Economy, Trade and Industry (METI) showed, leaving its assessment intact that retail sales "are flattening."

The pace of increase in automobile sales slowed to +1.5% y/y in August from +3.3% in July. The data showed lower spending for machinery and equipment (-13.0%), fabrics apparel and accessories (-12.1%) and general merchandise (-9.0%).

Retail sales fell 4.1% m/m in August for the first drop in three months following +1.0% in July.


MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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