Japan retail sales down
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Retail sales in Japan dropped 2.6 percent during December compared to figures from the previous year.
The details were released in a Ministry of Economy, Trade and Industry report last Friday, and stood in contrast to median market forecasts for a decline of just 1.8 percent.
According to an RTT news article, the sales rate was still above a seasonally adjusted 0.2 percent on numbers for November, less than the expected 1.2 per cent gain following a 4.5 percent increase during that month. November sales had dropped 2.1 percent year on year.
Sales for large-scale retailers were strongly affected with a full 3 percent year-on-year drop, compared to a projected fall of 2.5 percent.
Questions & Answers
Q.What was the actual retail sales decline in Japan for December, and how did it compare to expectations?
What was the actual retail sales decline in Japan for December, and how did it compare to expectations?
Retail sales in Japan fell by 2.6 percent in December compared to the previous year. This was a larger decline than the median market forecast, which had predicted a drop of only 1.8 percent.
Q.How did November's seasonally adjusted sales rate compare to expectations for December?
How did November's seasonally adjusted sales rate compare to expectations for December?
The seasonally adjusted sales rate for December was 0.2 percent above November's figures. This was less than the expected 1.2 percent gain, despite November seeing a 4.5 percent increase in sales.
Q.What was the year-on-year sales performance for large-scale retailers in December?
What was the year-on-year sales performance for large-scale retailers in December?
Large-scale retailers experienced a significant 3 percent year-on-year drop in sales for December. This decline was worse than the projected fall of 2.5 percent for this sector.
Q.Were November's year-on-year sales figures also negative?
Were November's year-on-year sales figures also negative?
Yes, sales in November had dropped by 2.1 percent when compared to the same month in the previous year. This indicates a prior decline before the December figures were released.
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