27 June 2001, 11:29 Japan's METI downgrades retail sales outlook to "falling trend"
TOKYO (AFX-ASIA) - The Ministry of Economy, Trade and Industry said
it has revised down its assessment of the retail sales outlook, saying
the data have entered a "falling trend".
"Although retail sales in June will possibly show an exceptional
improvement due to bonus payments, the mid-term outlook will be bleak,
as there are no positive factors to boost sales," an official said.
"Major items such as fuel, home appliances, PCs and automobiles,
which have so far helped prop up overall sales, will not show growth
for several months," he said. "Retail sales are in a falling trend."
The May figures showed a decline in PC sales for the fourth
consecutive month, with home appliances down 2.1 pct, falling for the
second month, reflecting the implementation of a new recycling law.
Department store sales fell due to weak demand for women's clothing
due to poor weather during the Golden Week holiday period in May, as
well as declines in home appliance sales.
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