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MNI DATA BRIEF: Japan July Retail Sales Post 5th Straight Rise

M

(MNI) Tokyo
TOKYO (MNI)

Japan's retail sales rose 2.4% y/y in July, a fifth straight gain, preliminary data released Monday by the Ministry of Economy, Trade and Industry (METI) showed, but METI's assessment ahead remained that retail sales "are flattening."

The gain in July accelerated from +0.1% in June on higher spending for fuel (+27.7%), motor vehicles (+3.1%) and fabrics apparel and accessories (+2.9%). Retail sales rose 1.1% m/m in July for the second straight rise following +3.1% in June.

Japan's economic outlook was unchanged by the Cabinet Office last week.

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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