Japan Large Retailer Sales Drop 5% in June, Reversing May's 5% Gain
Updated
Updated · bitcoinworld.co.in · Aug 1
Japan Large Retailer Sales Drop 5% in June, Reversing May's 5% Gain
1 articles · Updated · bitcoinworld.co.in · Aug 1
Summary
METI data showed Japan’s large retailer sales fell 5% in June from May on a seasonally adjusted basis, a sharp reversal after a 5% increase the previous month.
The swing points to uneven consumer spending at department stores and major chains, with inflation eroding purchasing power and wage growth staying modest.
Traditional large-format retailers are also facing pressure from online shopping and discount stores, adding to signs of softer domestic demand.
Private consumption accounts for more than half of Japan’s GDP, so a sustained retail slowdown could reinforce expectations for the Bank of Japan to keep policy loose.