Recent Updates
- Singapore: Temperature Statistics (Dec)
- Ukraine: Import and Export Indexes (Nov)
- Services Sector Activity (Nov)
- Spain: Service Sector Activity (Dec)
- Taiwan: Export Orders (Dec)
- Estonia: Construction Cost Index, PPI (Dec)
- Kazakhstan: Balance Sheet of Second-Tier Banks (Dec)
- Thailand: International Trade Press (Dec)
- China: GDP Press, Household Income and Expenditure (Q4), IP
- more updates...
Economy in Brief
Delay in Release
of Data for Construction, MSIO, Intl Trade, Wholesale Trade, Monthly Treasury, Retail Sales, Business Sales & Inventories, and Housing Starts Due to Lapse in Federal Government Funding.
U.K. Retail Sales Begin to Lose Momentum
U.K. retail sales fell by a sharp 1% in December...
Philadelphia Fed Manufacturing Index Rebounds; Pricing Pressure Eases
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index increased to 17.0 during January...
U.S. Initial Unemployment Insurance Claims Slip
Initial claims for jobless insurance eased to 213,000 (-2.6% y/y) during the week ended January 12...
Passenger Car Registrations Hold to Low Ground in Europe
Passenger car registrations in Europe fell on a year-over-year comparison for the fourth consecutive months in December...
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% |
