Japan: Retail Sales Up 6.4% In October

In Japan, for the first time in the past eight months, an increase in retail sales was recorded.

According to official statistics released on Monday, retail sales jumped 6.4% in October compared with a year ago. On a monthly basis, retail sales grew by 0.4%. Both indicators were far from analysts’ forecasts. They expected the negative dynamics of retail sales to continue in October.

The most significant year-on-year growth was seen in categories of goods such as vehicles and equipment. It was 16.4% and 27.4%, respectively. At the same time, in September, car sales decreased by 16%, equipment – by 24.3%. The drop in fuel sales slowed to 0.6% from 8.1% in September.

The Ministry of of also published a preliminary assessment of the dynamics of industrial production. Its volume increased in October by 3.8% on a monthly basis. In relation to the indicator for the same month of the previous year, the volume of Japanese industrial production decreased by 3.2%.

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