Japan’s retail sales up 6.4% in October
Japan’s retail sales went up by 6.4% on an annual basis in October, landing at ¥12,430 billion, according to the report released on Monday by the country’s Ministry of Economy, Trade, and Industry.
The increase, which surprised expectations, comes after last month’s 8.7 percentage-point drop. On a monthly basis, the sales value increased by 0.4%, despite falling 0.1% in September.
The total value of commercial sales amounted to ¥44,809 billion, with 2.3% fewer goods sold compared to October 2019, while the seasonally adjusted value of sales in the wholesale industry stood at ¥32,379, marking a decrease of 6.1% year-on-year, despite rising 1.6% month-on-month.
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