28.09.201623:00:00UTC+00Japan’s August Retail Sales Slides

Japan's retail sales slipped in August due to declining sales of clothing and home appliances, adding the pressure to policymakers to come up with new ways to boost household spending.

Data from the Ministry of Economy on Thursday showed that retail sales fell by 2.1% in August year-on-year, marking the sixth straight month of annual declines. The drop is higher than the estimate for a 1.8% annual decline.

Retail sales fell 1.1% in August from the prior month, which recorded an increase of 1.5%. Economists had estimated a 0.6% drop. Meanwhile, sales of department stores and supermarkets dropped 3.6% year-on-year in the previous month.

The weak figures from August underscores the relative weakness in Japan's economy and the challenge that Prime Minister Shinzo Abe's government faces in stimulating economic growth and inflation.

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