Japan retail sales sink 1.5 percent on year in February

January retails sales in Australia increased at their fastest annual rate since November 2009
retails sales

dpa/AFX/GNA – The total value of retail sales in Japan was down 1.5 per cent on year in February, the Ministry of Economy, Trade and Industry said on Tuesday – coming in at 11.628 trillion yen [10.5 billion dollars].

That beat forecasts for a decline of 2.8 per cent following the 2.4-per-cent drop in the previous month.

On a monthly basis, retail sales jumped 1.4 per cent after dropping 1.7 per cent in January.

Commercial sales were down 3.3 per cent on year and up 0.4 per cent on month at 42.114 trillion yen, while wholesale sales sank 1.2 per cent on month and 4.3 per cent on year to 30.486 trillion yen.

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