Japan retail sales tumble during June
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Japanese retail sales have fallen by 1.2 percent during the month of June over the same month last year. It was the fourth consecutive month of a decline in retail trade, largely brought about by the impact of the coronavirus pandemic.
The drop stands in contrast with earlier median market projections that forecasted a 6.5-per-cent decrease.
The information was revealed yesterday in government data released by the Ministry of Economy, Trade, and Industry.
Sales continued to plummet in categories such as general merchandise, fabrics apparel & accessories, motor vehicles, and fuel – although not as sharply as in the month previous. By contrast, sales rebounded for machinery & equipment
A bright spot in the figures showed food & beverage sales continuing to increase by 3 percent following a 1.9-per-cent rise in May.
Questions & Answers
Q.What was the actual decrease in Japanese retail sales for June compared to last year?
What was the actual decrease in Japanese retail sales for June compared to last year?
Japanese retail sales fell by 1.2 percent during June over the same month last year. This marked the fourth consecutive month of decline, primarily due to the coronavirus pandemic's impact on trade.
Q.How did the June retail sales figures compare to market expectations?
How did the June retail sales figures compare to market expectations?
The reported 1.2 percent drop in June retail sales was less severe than earlier median market projections. Analysts had forecasted a more significant decrease of 6.5 percent for the month.
Q.Which retail categories saw continued declines in sales during June?
Which retail categories saw continued declines in sales during June?
Sales continued to plummet in several categories, including general merchandise, fabrics apparel & accessories, motor vehicles, and fuel. However, these declines were not as sharp as those experienced in the previous month.
Q.Were there any positive sales trends observed in the June retail data?
Were there any positive sales trends observed in the June retail data?
Yes, there were some bright spots in the figures. Sales for machinery & equipment rebounded, and food & beverage sales continued to increase, showing a 3 percent rise after a 1.9 percent increase in May.
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