Japan Real Time Charts and Data

Edward Hugh is only able to update this blog from time to time, but he does run a lively Twitter account with plenty of Japan related comment. He also maintains a collection of constantly updated Japan data charts with short updates on a Storify dedicated page Is Japan Once More Back in Deflation?

Monday, April 07, 2003

Japan Deflation Continues

Despite the recent oil price rise, Japan just registered its 23 consecutive month of retail sales decline.

Japan's nationwide retail sales have fallen 0.2 percent in February from a year ago, their 23rd straight month of decline. The drop compares with 2.6 percent fall in January and a 3.4 percent decline in December, the Ministry of Economy, Trade and Industry (METI). A record high jobless rate and falling incomes have made consumers reluctant to spend, with war in Iraq adding to uncertainty.Sales at large retail stores in February rose 0.2 percent from a year earlier after falling a revised 2.2 percent in January. Department store sales were flat in February while supermarket sales grew 0.3 percent year-on-year, METI said. The ministry said sales of automobiles and oil-related products had supported overall sales, while those of clothes and personal computers declined.
Source: Channel News Asia