Japanese retail sales barely changed in October
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Japanese retail sales fell 0.1 per cent year-on-year in October, according to the Ministry of Economy, Trade and Industry.
But while sales were down, the figures were much better than the 1.6 per cent fall analysts expected, after September’s 1.7 per cent decline.
Seasonally adjusted monthly sales rose 2.5 per cent – also exceeding analysts’ forecasts of 1.1 per cent and representing a big leap on September’s 0.3 per cent rise.
Larger retailers, such as hypermarkets and department stores, recorded a 1 per cent year-on-year decline, following September’s 3.2 per cent decline.
Questions & Answers
Q.Did Japanese retail sales decrease overall compared to the previous year?
Did Japanese retail sales decrease overall compared to the previous year?
Yes, Japanese retail sales fell by 0.1 per cent year-on-year in October. This slight decline followed a 1.7 per cent fall recorded in September.
Q.How did the October retail sales figures compare to analysts' predictions?
How did the October retail sales figures compare to analysts' predictions?
The year-on-year decline of 0.1 per cent was significantly better than analysts' expectations of a 1.6 per cent fall. Monthly sales also exceeded forecasts.
Q.What was the performance of larger retail businesses in October?
What was the performance of larger retail businesses in October?
Larger retailers, including hypermarkets and department stores, experienced a 1 per cent year-on-year decline. This was an improvement compared to their 3.2 per cent decline in September.