— Japan Nov Retail Sales -2.3% Y/Y; Oct -1.9%; MNI F’cast 0.0%
— Japan Nov Retail Car Sales +19.7% Y/Y Vs Oct +22.8%
— Japan Nov Retail Machinery Sales -51.8% Y/Y; Oct -30.3%
TOKYO (MNI) – Japan’s November retail sales posted the first
year-on-year drop in two months on lower machinery sales and department
store and supermarket sales, data from the Ministry of Economy, Trade
and Industry released Wednesday showed.
Retail sales fell 2.3% in November from a year earlier following
the rise of 1.9% in October and declines of 1.1% in September and 2.6%
in August.
Relatively high temperatures dampened demand for winter clothing,
and sales of household electronics.
The November reading was weaker than the median forecast of a flat
reading in a Market News International survey of economists.
Retail sales of automobiles rose 19.7% from a year earlier in
November, posting the second consecutive y/y rise after surging 22.8% in
October.
Meanwhile, retail sales of machinery and equipment including
consumer electronics in November tumbled a record drop of 51.8% on-year,
surpassing the previous record drop of 30.3% in October, marking the
fourth straight y/y fall.
Other details from the latest data: Commercial sales, or combined
sales at the wholesale and retail levels (y/y): November -2.5%, the
first y/y fall in seven months.
Sales at the wholesale level (y/y): November -2.6%, also the first
y/y fall in seven months.
Large retail store sales on a same-store adjusted basis (y/y):
November -2.5% (October -1.4%), a fourth straight y/y fall.
Large retail store sales, unadjusted (y/y): November -1.6%, October
-0.5%, a fourth straight y/y drop.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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