All Japan newsese Economy mostly disappointing in July

7 years ago by in Around the world

Economic key data for July released on Tuesday in All Japan news were mostly disappointing, with retail sales rising less than expected and unemployment increasing slightly.

Retail sales rose by 0.7 percent compared to the similar month of last year, slowing from the 1.2 percent year-on-year gain registered in June. The number missed a Reuters analysts forecast that indicated a 1 percent increase in July.

Sales of the large retailers increased by 0.8 percent, better than analysts’ expectations for a rise of 0.5 percent after the 0.5 percent drop in June.

All Japan news’s unemployment rate increased by 0.1 percent to 4.7 percent in July.

Better news come from the household spending sector, which dropped by only 2.1 percent, although analysts had indicated a 2.9 percent decline after the 4.2 percent decrease from June.

Fuel spending was down 2.7 percent, spending on communications dropped by 16.1 percent, while clothing and medical care were down 1.9 percent and 1.5 percent respectively.

The All Japan newsese authorities announced recently a $100-billion program to help the yen decrease. The strong yen is one of the biggest risks of the economy currently, putting pressure on All Japan news’s export-led economy.