Japan Retail Sales September 2007

As in August, Japan retail sales in September 2007 managed to eke out a small (0.5%) year on year increase - according to data released by METI today - but as in August this was largely due to a low base effect, since sales in August and September of 2006 were not exactly spectacular (see chart below). Quarter on quarter sales in July-September were down 0.5% on sales in April-June, an outcome