Japan Retail Sales for July -2.0% y/y (vs. expected -0.7%)

Japan Retail Sales data for July 2019

-2.0% y/y

• expected -0.7%, prior was 0.5%

-2.3% m/m

• expected -0.9%, prior was 0.0%

Slow wage growth in Japan (OK, data shows not growth but falls) is negatively impacting the consumer. Retails sales data showing this to be the case again.