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MNI DATA IMPACT: Japan July Retail Sales -2.0% Y/Y

MNI (London)
     TOKYO (MNI) - Slower sales of general merchandise, machinery/equipment and
fuel put a dampener on Japanese retail sales in July on a year-on-year basis,
data from the Ministry of Economy, Trade and Industry (METI) showed Friday.
     Here are the key points from the latest retail sales data:
     --Retail sales dropped 2.0% year-on-year in July, slower than the 0.5% y/y
growth in June, posting the first fall in 21 months. The result missed the -0.8%
y/y growth projected by MNI. 
     --General merchandise sales dipped further by 5.8% y/y in July from the
previous 2.5% y/y fall. Sales for machinery and equipment plunged 8.1% y/y from
the 5.5% y/y reported in June, marking the biggest drop across sectors this
month.
     --Fuel sales dropped 6.0% y/y, more than the 3.6% fall recorded in June.
Sales of food and beverages fell for the first time in 5 months, down by 0.7%
y/y, compared with a 1.6% y/y gain in June. Sales for fabric apparels and
accessories decreased sharply by 5.3% y/y from the previous 4.2% y/y growth.
     --On a monthly basis retail sales were down 2.3% on a monthly basis in
July, lower than the flat growth reported in the previous month. 
--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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