Japan Retail Sales Climb 1.6% In July

Retail sales in Japan were up 1.6 percent on year in July, the Ministry of Economy, Trade and Industry said on Friday.

That beat forecasts for an increase of 1.1 percent following the 1.0 percent gain in June.

Sales from large retailers jumped an annual 2.1 percent, matching forecasts and up from the 0.3 percent decline in the previous month.

On a monthly basis, retail sales climbed 1.2 percent – topping forecasts for an increase of 0.6 percent following the 0.6 percent decline in June.

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