JAPAN DATA: Automobile sales in October are expected to have posted
a double-digit percentage drop on year in payback for a sharp 28.3% gain
in the same month of 2011, a dealership for one of the top three
automakers said. Auto sales fell 8.1% y/y in September, posting the
first drop in 13 months, as the government subsidies for buying
low-emission vehicles had been used up. Falling car sales will lead to
weaker personal consumption, which accounts for about 60% of the
economy. The Japan Auto Dealers Association will release the October
sales at 1400 JT (0500 GMT) on Thursday, Nov. 1.