Japan April Retail Sales Fall 4.4 Percent Year-on-year

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Japan April Retail Sales Fall 4.4 Percent Year-on-year

by Wochit 0:33 mins

Japan April Retail Sales Fall 4.4 Percent Year-on-year

by Wochit 0:33 mins

Japanese retail sales fell 4.4 percent in April from a year earlier, the fastest annual decline since the March 2011 earthquake, as consumers cut back on shopping after an increase in the sales tax. The fall was bigger than the median estimate for an annual 3.3 percent decline. The government raised the national sales tax to 8 percent from 5 percent on April 1 to pay for rising welfare costs.

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