Japan Retail Sales Growth Slows, Likely Drag On GDP
Japan's retail sales rose for an 11th consecutive month in September from a year earlier, but the pace of gains slowed from the prior month, in a sign private consumption may not be strong enough to avoid a broader slowdown in economic growth.
]The trade ministry's figures followed data that showed an unexpected drop in exports in September, raising the spectre of a marked moderation in economic growth in July-September from the previous quarter's solid expansion.
Analysts expect the third-quarter slowdown to be temporary, caused by a string of natural disasters that disrupted business and consumer activity in recent months.
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