Retail sales in Japan climbed an annual 1.9 percent in January, the Ministry of Economy, Trade and Industry said on Tuesday, standing at 11.341 trillion yen. That was well above forecasts for a decline of 0.1 percent following the 2.5 percent increase in December.
On a seasonally adjusted monthly basis, retail sales spiked 4.1 percent - again blowing past forecasts for a gain of 1.0 percent after adding 0.3 percent in December.
Sales from large retailers were down an annual 1.0 percent to 1.743 trillion yen - but that also beat forecasts for a fall of 1.1 percent after easing an upwardly revised 0.3 percent in the previous month.
The data also showed that wholesale sales were down 3.6 percent on year to 27.427 trillion yen and commercial sales lost an annual 2.1 percent to 38.768 trillion yen.
by RTT Staff Writer
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