Retail sales in Japan declined more significantly than expected in February

A negative surprise Japanese retail sales

In February, retail sales fell 0.8 percent from February last year. Expert expectations averaged a more modest 0.3 percent decline in retail sales in February, following a 1.1 percent increase in January.

Sales of manufactured goods fell by 2.7 percent in February, sales of food and beverages by 0.6 percent and sales of motor vehicles by 14.8 percent. Meanwhile, fuel sales rose 21.6 percent. (MTI)