Japan Retail sales data (August): -2.1% y/y (expected -1.7%)
Japan Retail sales results for August
For the m/m, -1.1% MISS
- expected -0.6%, prior +1.4%
-2.1% y/y, MISS
- expected -1.7%, prior -0.2%
Consumers to retailers: "Hi! We've got enough stuff, K? Tks!"
A miss during August for Japanese retail sales, down more than expected for both the m/m and y/y.
August is the first fall in 3 months for retail sales (for the m/m, but the 6th consecutive fall for the y/y). Growth in wages is a key goal for the Japanese administration, until we see more of this consumption data will continue to be lacklustre.