MNI DATA IMPACT: Japan April Retail Sales Plunge 13.7% y/y

     TOKYO (MNI) - Japanese retail sales declined sharply in April, led by the

contraction in general merchandise due to falling domestic demand caused by the

Covid-19 disruption, according to data from the Ministry of Economy, Trade and

Industry (METI) released on Friday.

     Here are the key points from the latest retail sales data:

     --Retail sales dropped 13.7% on a year on year basis in April, sliding

faster after the previous -4.6% y/y fall but lower than the -11.5% y/y projected

by MNI.

     --General merchandise sales fell a dramatic 42.9% y/y, following the 21.0%

y/y drop recorded in March. Sales of fabric apparels and accessories dropped for

the seventh consecutive month by 53.6% y/y after falling 22.7% y/y last month.

     --Sales of food and beverages increased 0.6% y/y in April, turning around

the 0.6% decrease last month. 

     --Fuel sales, another key driver, dipped further by 21.7% y/y, faster than

the previous 6.4% y/y fall. Sales of machinery and equipment declined 12.9% y/y

after falling 7.1% y/y in March.

     --On a monthly basis, retail sales were down by 9.6% in April after the

4.5% drop in March.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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