Japan Retail Sales Sink 1.1% In August

(RTTNews) - The value of retail sales in Japan was down a seasonally adjusted 1.1 percent on month in August, the Ministry of Economy, Trade and Industry said on Tuesday - coming in at 12.683 trillion yen. That missed forecasts for an increase of 0.1 percent following the 0.4 percent gain in July.

On a yearly basis, sales were also up 1.1 percent - missing expectations for a 1.0 percent gain following the 0.4 percent increase in the previous month.

Large scale retail sales were down 1.1 percent on month and up 3.0 percent on year after slipping 1.6 percent on month and rising 2.0 percent on year a month earlier.