The total value of retail sales in Japan was down 9.7 percent on year in March, the Ministry of Economy, Trade and Industry said on Tuesday – coming in at 12.396 trillion yen.
That missed forecasts for a decline of 7.5 percent following the 1.7 percent contraction in February.
Sales from large retailers plummeted an annual 13.0 percent to 1.715 trillion yen – also missing estimates for a fall of 10.9 percent following the 1.3 percent increase in the previous month.
On a seasonally adjusted monthly basis, retail sales dipped 1.9 percent versus expectations for an increase of 0.6 percent after gaining 0.7 percent a month earlier.
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