Japan August retail sales slip renews pressure on policymakers
- Futures fall on Brexit worries, Trump's dollar comments
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
A man walks up a spiral staircase at a shopping mall at the Tokyo's Ginza shopping district, Japan, May 19, 2015. REUTERS/Yuya Shino/File Photo
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
By Stanley White
TOKYO (Reuters) - Japan's retail sales fell more than expected in August for the sixth straight month of annual declines due to falling sales of clothes and home appliances - keeping policymakers under pressure to find ways of beefing up household spending.
Retail sales fell 2.1 percent in August from a year earlier, more than a median market forecast for a 1.8 percent annual decline, data from the Ministry of Economy, Trade and Industry showed on Thursday.
The weak reading underscores the relative fragility in Japan's economy, with slow wage growth and gloomy prospects of recovery weighing on household spending.
Japan's economy grew faster over April-June than initially estimated due to upward revisions to capital expenditure and inventories, but there are concerns from a recent run of weak data on exports, factory output and household spending.
The parliament will soon start to deliberate a government stimulus package with planned spending 7.5 trillion yen by the national and local governments on infrastructure projects in an attempt to boost domestic demand.
Economists say the package, which is sure to be passed in parliament, could support growth but still worry whether wages will rise fast enough to spur consumer spending.
(Reporting by Stanley White; Editing by Eric Meijer)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Two weeks into 2017, Mediterranean migrant deaths rise on last year
- UK court to approve Rolls-Royce settlement with fraud office
- Wal-Mart to create 10,000 U.S. jobs in 2017
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!