Japan’s Retail Sales Drop Adds to Fears of Stalled Recovery
- Omicron restrictions weigh as sales slip 0.8% in February
- Kishida has ordered steps to cushion blow of soaring energy
Pedestrians in the Shimbashi District of Tokyo on March 23.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
Japan’s retail sales fell for a third straight month in February amid the country’s biggest wave of virus infections adding to concern that the economy’s recovery may have slipped back into reverse.
Sales fell 0.8% in February from the month before, as shoppers cut back spending on clothes and accessories, the economy ministry reported Wednesday. Analysts had expected a 0.3% decline. Compared with the previous year, sales were down for the first time since September, also falling 0.8%.