Recent Updates
- Morocco: CPI (Sep)
- Palestine: Public Debt (Sep-Prelim)
- Bangladesh: CPI (Sep)
- Luxembourg: Employment and Unemployment (Sep)
- Ukraine: Average Sales Prices of Agricultural Products (Sep); Trade by Commodity, Import and Export Indexes (Aug), HPI (Q3)
- Turkey: Non-Domestic PPI (Sep)
- Lebanon: CPI (Sep)
- Spain: Industrial Turnover and Orders, Service Sector Activity (Aug)
- more updates...
Economy in Brief
Canadian Retail Sales Weaken As Inflation Slows
Canada's retail sales show relatively widespread deceleration...
U.S. Leading Economic Indicators Strengthen
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (7.0% y/y) during September...
Philadelphia Fed Manufacturing Growth Continues; Pricing Pressure Eases
The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index dipped to 22.2 during October...
U.S. Initial Claims for Unemployment Insurance Ease
Initial claims for unemployment insurance fell to 210,000 (-8.7% y/y) during the week ended October 13...
U.K. Retail Sales: Doing Well-As-Can-Be-Expected Despite September Drop
U.K. retail sales and growth have all held up remarkably well- so far...
by Robert Brusca July 29, 2009
Japan retail sales fell in June but June caps a three-month
period in which sales have expanded. Still, in the quarter-to-date
Japan’s retail sales are falling but only slightly.
Over 12-months retail sales are off by about 3%, led by
declines in fabric and apparel and the rest of retail which dropped by
4.2%. Auto sales are only off by 0.5% Yr/Yr. Food and beverage sales
are off by 1.2%. Sales at department stores and supermarkets slipped
6.7% on the year, and after those figures are adjusted for the number
of stores (same-store sales), sales posted their 15th straight monthly
decline, according to METI.
This is hardly a robust picture of activity yet today the MoF
upgraded its assessment of Japan’s economy for the first time in five
years. The Ministry of Economy, Trade and Industry said. The
government's massive stimulus measures, which include tax-cut programs
such as incentives to buy new cars, may help to boost retail sales in
the future. For now the consumer is in the doldrums and spending habits
remain subdued. Leading indicators for Japan have not turned the corner
to signal positive trends yet.
| Jun-09 | May-09 | Apr-09 | 3-mo | 6-mo | 12-mo | Yr-Ago | Q-to-Date | |
| Total SA | -0.3% | 0.1% | 0.7% | 2.1% | -1.6% | -2.9% | 1.2% | -0.3% |
| Not seasonally adjusted | ||||||||
| Total: Nominal | -0.5% | 0.5% | 0.3% | 1.1% | -0.8% | -3.0% | 0.7% | -0.7% |
| Motor Vehicles | -1.9% | -4.1% | 7.5% | 4.7% | -5.7% | -0.5% | -3.2% | 3.0% |
| Food& Beverage | -1.4% | 2.0% | -1.0% | -2.0% | -3.7% | -1.2% | 14.8% | -1.0% |
| Fabric apparel& access | -4.5% | 1.4% | 1.5% | -6.5% | -1.0% | -5.7% | -6.6% | 2.5% |
| Rest of Retail | 1.1% | 0.4% | -0.7% | 3.5% | 2.3% | -4.2% | -5.0% | -1.9% |
