Japan retail sales down 2.7% in December
January 30, 2009
By Ken Worsley
According to figures released Thursday by the Ministry of Economy, Trade and Industry, retail sales fell 2.7% in December, while wholesale sales fell 13.9% and commercial sales were down 11.3%. Sales at large-scale retail outlets were down 5.0% in total, and 6.3% when adjusted to same-store results.
December’s drop in retail sales was the largest seen since February 2005, and was the fourth consecutive month in which retail sales fell. Sales at large-scale stores fell in nine months in 2008 (ten months by the adjusted figures), with December showing the largest fall. For the October-December quarter, retail sales fell 1.5% against a year earlier.
Filed Under Business, Economic Reports, Retail
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