July retail sales in Japan slide
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Japanese government data shows a significant drop in retail sales for July this year.
Retail sales in Japan declined by 2.8 percent for the calendar month compared with the same period last year, reaching US$117.4 million. The decrease was higher than the median market forecast of a 1.7-per-cent drop, and compounds last month’s fall of 1.3 percent.
Retail sales shrunk by 3.3 percent month on month, a stark contrast to a 13.1-per-cent rise in June.
The numbers were released by Japan’s Ministry of Economy, Trade, and Industry.
Questions & Answers
Q.What was the total value of retail sales in Japan for July this year?
What was the total value of retail sales in Japan for July this year?
Retail sales in Japan for July this year reached US$117.4 million. This figure represents a 2.8 percent decline compared to the same period last year, exceeding market forecasts.
Q.How did the July retail sales figures compare to market predictions?
How did the July retail sales figures compare to market predictions?
The July decline of 2.8 percent was higher than the median market forecast, which had predicted a 1.7-per-cent drop. This indicates a worse performance than anticipated.
Q.Who released the official retail sales data for Japan?
Who released the official retail sales data for Japan?
The retail sales figures were released by Japan’s Ministry of Economy, Trade, and Industry. This government body provides official economic data for the country.
Q.How did July's month-on-month sales compare to the previous month?
How did July's month-on-month sales compare to the previous month?
Retail sales shrunk by 3.3 percent month on month in July. This stands in stark contrast to the previous month, June, which saw a significant 13.1-per-cent rise.
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