— Japan Oct Retail Sales -1.2% Y/Y; MNI Median Fcast -0.6%
— Japan Retail Sales Post 1st Fall in 3 Months
— Japan Oct Retail Car Sales -3.5 Y/Y; Sep -1.5%
— Japan Oct Retail Fuel Sales +0.7% Y/Y; Sep +0.1%
— Japan Oct Retail Machinery Sales -5.8% Y/Y; Sep -1.4%
TOKYO (MNI) – Japan’s retail sales fell for the first time in three months
in October as an end to subsidies for buying greener cars dented domestic demand
and the global slowdown is clouding prospects for jobs and wages, data from the
Ministry of Economy, Trade and Industry released Thursday showed.
In October, retail sales slumped 1.2% on year, much worse than the median
forecast by economists for a 0.6% fall in a MNI survey.
In October, retail sales of automobiles fell 3.5% in October following a
1.5% dip in September, which was the first fall in 12 months.
The latest industry data showed that new vehicle sales in Japan fell for a
second straight month in October after making the first annual decline in 13
months in September.
The government terminated subsidies for buying low-emission vehicles in
September, leading new vehicle sales to fall 9.0% in October following a 8.1%
decline in September.
Meantime, retail sales of fuels posted a second straight rise, up 0.7% in
October after a 0.1% increase in September.
Retail sales of machinery and equipment including consumer electronics
posted a 15th straight on-year drop. The pace of decline accelerated to -5.8% in
October from -1.4% in September.
–MNI Tokyo Bureau; tel: +81 90-4752-7020; email: yseki@mni-news.com
–MNI Tokyo Bureau; tel: +81 90-4670-5309; email: msato@mni-news.com
[TOPICS: MAJDS$,M$A$$$,M$J$$$]
