Retail sales in Japan were up 5.8 percent on year in April, the Ministry of Economy, Trade and Industry said on Tuesday, coming in at 11.478 trillion yen. That missed forecasts for an increase of 6.0 percent following the 10.3 percent surge in March.
On a seasonally adjusted monthly basis, retail sales eased 0.3 percent - also shy of forecasts for a gain of 0.1 percent following the 1.2 percent contraction in March.
Sales from large retailers retreated 0.5 percent on year to 1.567 trillion yen. That also missed expectations for a decline of 0.3 percent on year following the upwardly revised gain of 5.1 percent in the previous month.
Wholesale sales added an annual 0.3 percent to 30.134 trillion yen after rising 0.5 percent a month earlier, the data showed, while commercial sales jumped 1.8 percent on year to 41.613 trillion yen after adding 2.9 percent in March.
Also on Tuesday:
• The Ministry of Internal Affairs and Communications said that the average of monthly consumption expenditures per household was up 2.6 percent on year in April, standing at 301,948 yen. That beat forecasts for an increase of 2.5 percent following the 3.4 percent jump in March.
The average of monthly income per household stood at 469,381 yen, up 2.7 percent on year, while the average of consumption expenditures was 339,069 yen, up an annual 3.8 percent.
On a monthly basis, household spending was down 0.8 percent, missing forecasts for a contraction of 0.5 percent.
• The unemployment rate in Japan came in at a seasonally adjusted 4.6 percent in April, the Ministry of Internal Affairs and Communications said. That missed forecasts for 4.5 percent, which would have been unchanged from the March reading.
The number of employed people in Japan was 62.75 million in April, while there were 3.15 million unemployed people. The job-to-applicant ratio was 0.79, beating expectations for 0.77 after showing 0.76 in the previous month. The participation rate was 59.4 percent, up from 58.7 a month earlier.
by RTT Staff Writer
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