Japan’s Ministry of Economy, Trade and Industry announced that retail sales in August fell 2.6% year-on-year, the first decline in March, exceeding economists’ expectations and setting a biggest drop in May, further indicating that Japan’s economic recovery is losing momentum.
Data showed that retail sales in Japan fell by 2.6% year-on-year in August, the largest decline since May, and Japan’s retail sales fell by 1.3% in May. Economists surveyed previously expected a decrease of 0.8%.
Fast Retailing Co., Asia’s largest apparel chain, said that its Japan’s UNIQLO casual apparel store’s same-store sales in August fell 9.4% year-on-year, due to lower temperatures leading to lower summer apparel sales. smooth.
As of the June quarter, the Japanese economy contracted for the third consecutive quarter. According to a government survey of economists, Japan’s economy is expected to grow at an annual rate of 4.6% in the third quarter.
Data showed that retail sales in Japan fell by 2.6% year-on-year in August, the largest decline since May, and Japan’s retail sales fell by 1.3% in May. Economists surveyed previously expected a decrease of 0.8%.
Fast Retailing Co., Asia’s largest apparel chain, said that its Japan’s UNIQLO casual apparel store’s same-store sales in August fell 9.4% year-on-year, due to lower temperatures leading to lower summer apparel sales. smooth.
As of the June quarter, the Japanese economy contracted for the third consecutive quarter. According to a government survey of economists, Japan’s economy is expected to grow at an annual rate of 4.6% in the third quarter.
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