Retail sales in Japan fell for the second month in a row by Reuters

Reuters. File photo: Shoppers walk through Ameyoko Shopping District, also known as Ameya-Yokocho, where Tokyo’s largest street food market is located, Tokyo, Japan June 5, 2021. REUTERS / Issei Kato

By Cantaro Comia and Yoshifumi Tekmoto

TOKYO (Reuters) – Japan’s retail sales fell for a second month in September as consumers capped spending amid concerns over a coronavirus epidemic, boosting expectations that the world’s third-largest economy would stall in the third quarter.

Given the expected impact of the epidemic on Japanese manufacturers and consumers, the Bank of Japan is likely to lower its economic growth forecast for the current fiscal year in its quarterly report on Thursday.

Retail sales in September fell 0.6% from the same month a year earlier, official data showed on Thursday, better than economists’ average forecast for a 2.3% fall in a Reuters poll. It followed a 3.2% decline in August marking the first year-on-year decline in six months.

Compared to the previous month, retail sales grew 2.7% in a seasonal adjustment.

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