Japanese retail sales barely changed in October

Japanese retail sales fell 0.1 per cent year-on-year in October, according to the Ministry of Economy, Trade and Industry.

But while sales were down, the figures were much better than the 1.6 per cent fall analysts expected, after September’s 1.7 per cent decline.

Seasonally adjusted monthly sales rose 2.5 per cent – also exceeding analysts’ forecasts of 1.1 per cent and representing a big leap on September’s 0.3 per cent rise.

Larger retailers, such as hypermarkets and department stores, recorded a 1 per cent year-on-year decline, following September’s 3.2 per cent decline.