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Japan March Retail Sales +10.3% On Year

Retail sales in Japan were up 10.3 percent on year in March, the Ministry of Economy, Trade and Industry said on Friday, standing at 12.432 trillion yen. That beat forecasts for an increase of 10.0 percent following the 3.5 percent gain in February.

On a seasonally adjusted monthly basis, retail sales fell 1.2 percent - shy of forecasts for a decline of 0.5 percent after collecting 2.0 percent in the previous month.

Sales from large retailers were up 5.0 percent on year to 1.603 trillion yen - shy of expectations for a gain of 7.2 percent following the 0.2 percent gain a month earlier.

The data also showed that wholesale sales added 0.5 percent on year to 34.428 trillion yen, while commercial sales jumped 3.0 percent to 46.860 trillion yen.

by RTT Staff Writer

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