Japan Retail Sales Rise 1.1% On Year In June
2011-07-28 15:43:36
Retail sales in Japan climbed 1.1 percent on year in June, the Ministry of Economy, Trade and Industry said on Thursday, standing at 11.137 trillion yen. That was well above forecasts for a 0.5 percent contraction following the 1.3 percent decline in May.
On a seasonally adjusted monthly basis, retail sales jumped 2.9 percent - again blowing past expectations for a 1.5 percent rise following the 2.4 percent gain in the previous month.
Sales from large retailers saw a decline of 0.5 percent on year to 1.603 trillion yen. That compares to forecasts for a 0.4 percent fall following the revised 2.5 percent contraction a month earlier.
The data also showed that wholesale sales climbed 3.5 percent on year and commercial sales collected an annual 2.9 percent.