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Japan Retail Sales Sink 8.7% On Year In September

The value of retail sales in Japan was down 8.7 percent on year in September, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 12.101 trillion yen.

That missed forecasts for a decline of 7.7 percent following the 1.9 percent drop in August.

On a monthly basis, retail sales dipped 0.1 percent after climbing 4.6 percent in the previous month.

Commercial sales were up 4.9 percent on month and down 12.8 percent on year at 43.691 trillion yen, while wholesale sales gained 3.1 percent on month and lost 14.8 percent on year at 31.590 trillion yen.

For the third quarter of 2020, retail sales were up 8.4 percent on quarter and down 4.6 percent on year at 36.947 trillion yen.

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