Japan retail sales slide

Japan retail sales slid two per cent in January according to government data.

Japan’s Ministry of Economy, Trade and Industry surveys department stores, chain stores, supermarkets and other large-scale stores and convenience stores to compile a monthly trend index.

Last month’s year-on-year decline was the first in seven months, with commentators citing bad weather and continuing decline in take-home incomes for the downturn.

However the trend may have been exaggerated due to consumers spending more than usual in the first three months of 2014 to beat an increase in sales tax which took effect in April

December’s retail sales were up 0.2 per cent year-on-year.

Charts with full data are available at the Ministry’s website.