Japan retail sales fall in June
Japanese retail sales have fallen by 1.2 per cent 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 per cent following a 1.9-per-cent rise in May.