Japan Retail Sales Slide 1.2% On Year In June

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Retail sales in Japan were down 1.2 percent on year in June, the Ministry of Economy, Trade and Industry said on Thursday.

That beat forecasts for a decline of 6.5 percent following the 12.3 percent drop in May.

On a monthly basis, retail sales jumped a seasonally adjusted 13.1 percent after gaining 2.1 percent in the previous month.

The ministry also said that wholesale sales were down 17.3 percent on year – improving from the 24.7 percent tumble a month earlier.

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