2/26, 12:56 AM (Source: TeleTrader)
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Japan's retail sales down 2.4% in January

Japan's retail sales surprised expectations in January despite dropping 2.4% on an annual basis to land at ¥12.09 billion, according to a preliminary report released on Friday by the country's Ministry of Economy, Trade, and Industry.

The decrease comes after last month's data showed the retail sales shrinking by 0.2% year-on-year. On a monthly basis, the sales value went 0.5% down, improving compared to last month's 0.7% drop.

The total value of commercial sales amounted to ¥41.49 billion, with 4.7% fewer goods sold compared to January 2020, with the seasonally adjusted value of sales in the wholesale industry standing at ¥29.40 billion, marking a decrease of 5.3% year-on-year.

Breaking the News / NL