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.