After two months of what seemed like improving conditions in the Japanese economy, Retail Sales for June came to be worse than originally expected. Indeed economists had forecast the metric to print at a 0.4% gain, unfortunately for the island economy, the realized figure saw a 0.3% decline. One bit of positive light was that May sales were upwardly revised from a flat reading to a 0.1% gain. Deteriorating sales come on the back of poor performance from the vehicles sector. In fact auto sales plummeted 4.0%, the worse since February.
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