(RTTNews) - Retail sales in Japan fell 1.4 percent on year in September, the Ministry of Trade, Economy and Industry said on Wednesday, declining for the 13th straight month to come in at 10.544 trillion yen.

That was slightly better than the 1.6 percent annual decline that analysts had been expecting following the 1.8 percent contraction in August.

On a monthly basis, retail sales were up 0.9 percent versus forecasts for a 0.2 percent increase after the 1.0 percent gain in August. It was the third straight month of monthly gain.

Among large retail stores, sales fell 5.6 percent on year to sink for the 18th consecutive month to 1.494 trillion yen. That compares to forecasts for a 5.9 percent annual decline after the 6.8 percent fall in the previous month.

The data also showed that wholesale sales plunged 27.2 percent on year to 31.183 trillion yen, while commercial sales fell an annual 22.0 percent to 41.727 trillion yen.

For the third quarter, overall retail sales were down an annual 1.9 percent to 32.6 trillion yen after a 2.8 percent annual contraction in the previous three months.

Large retailers’ sales dropped 7.0 percent on year in the third quarter to 4.799 trillion yen after the 6.7 percent annual decline in the second quarter. Commercial sales fell 22.8 percent on year in Q3 to 122.885 trillion yen, while wholesale sales were down an annual 28.4 percent to 90.285 trillion yen.

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Posted in Categories: Economy, Forex, Japan, Releases.

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