30 August 2001, 09:13 Japan bonus payments, summer weather fail to brighten retail sales - METI
TOKYO (AFX-ASIA) - Employee bonus payments and hot summer weather
failed to brighten July all-store retail sales, which fell 2.7 pct
year-on-year, accelerating from a 2.4 pct fall the month before, the
Ministry of Economy, Trade and Industry said.
Large-store retail sales also fell, down 3.0 pct year-on-year in
July after declining by 1.9 pct in June.
"Generally, consumption rises in July due to bonus payments.
However, as there was one less Saturday this month, the impact was
limited," a ministry official said, adding: "The weather was not much
hotter than last year."
Price falls also offset the potential gains.
"Amid the hot summer, casual clothing such as T-shirts sold well in
July. However, due to continued price falls, it did not provide a major
positive impact for the overall sector."
Clothing sales fell 7.8 pct in July, while another seasonal
favourite, food and beverages, dropped 4.7 pct.
In the household products sector, solid demand for air-conditioners
was offset by declines in the sale of personal computers, pushing the
overall figure here down 2.0 pct.
Convenience-store sales rose 4.7 pct on an adjusted basis but fell
0.7 pct once trade from newly opened stores is factored out.
Non-food products sold at convenience stores rose only 0.3 pct,
with demand for games software failing to exceed last year.
The auto sector was up 5.5 pct due to the launch of new models, the
official said.
The official said the ministry held its retail sales assessment
unchanged, saying the indicator is currently weak.
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