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Retail sales in Japan declined for the seventh straight month during the period of September, amid continued weakness in domestic consumption.
Retail sales in Japan were flat on a seasonally adjusted monthly basis in September, data released by the Ministry of Economy, Trade and Industry showed Monday. That missed expectations for an increase of 0.2 percent following the 1.2 percent decline in August.
On a yearly basis, retail sales skidded 1.9 percent - also shy of forecasts for -1.8 percent following the 2.1 percent contraction in the previous month. Sales from large retailers tumbled am annual 3.2 percent versus forecasts for a decline of 2.7 percent after dropping 3.6 percent in the previous month.
Meanwhile, sales of luxury items were also hit by higher import duties introduced by China in April, which has reduced the attraction for Chinese tourists making purchases in Japan to take home to China.
