Subscribe free to our newsletters via your
. Earth Science News .

Subscribe free to our newsletters via your

Japanese retail sales slump after disaster

by Staff Writers
Tokyo (AFP) April 27, 2011
Japanese retail sales recorded their steepest drop in 13 years in March, the government said Wednesday as last month's massive earthquake and tsunami dampened consumer sentiment.

Retail store sales in March tumbled 8.5 percent from a year earlier, reversing a 0.1 percent gain in February, the ministry of economy, trade and industry said.

It was the sharpest drop in 13 years and the second worst on record since the government started compiling the data in 1980, the ministry said.

The March 11 disaster destroyed houses and stores along the northeastern coast and prompted consumers across the nation to cut spending on non-essential items, economists said.

Auto sales plunged 32.8 percent in March from a year earlier, with machinery sales down 17.3 percent. Sales of clothes and textiles fell 10.0 percent but fuel sales rose 5.1 percent, according to the official data.

"Voluntary restraint among consumers played a big role," in the retail sales slump, said Takeshi Minami, economist at Norinchukin Research Institute.

"Looking ahead, moves among retailers to close stores or shorten business hours (to save electricity) will likely affect sales," he said.

Retail sales will remain weak for the April-September first half of the current fiscal year, Minami said.

The tsunami damaged a major nuclear power plant, causing fears of a shortfall in electricity supply as summer approaches.

Minami added consumer sentiment was gradually recovering.

"This situation will not last forever. Sales of durable goods such as cars will start picking up," when the nation enters full rehabilitation from the disaster, he said.

The retail data came a day after the Japan Department Stores Association said sales in March shrank 14.7 percent in March, also the biggest drop in 13 years.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links
Bringing Order To A World Of Disasters
A world of storm and tempest
When the Earth Quakes

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Japan thanks US rescuers, urges Americans to return
Los Angeles (AFP) April 26, 2011
Japan's consul general in Los Angeles thanked local rescuers who provided emergency help after last month's earthquake and tsunami - and urged American tourists to return to his country. Junichi Ihara voiced Japan's "sincere gratitude" for the Los Angeles-based rescuers, "one of the first to mobilize and spring into action when the devastating earthquake and subsequent tsunami hit. "Whi ... read more

Russia, Ukraine leaders mourn Chernobyl nightmare

In tsunami-hit Japan, a mother finally finds closure

Japan imperial couple visit tsunami zone

Chernobyl survivor warns of 'bombshell' in Japan

Researchers Discover Optical Secrets of Metallic Beetles

Sony challenges iPad in tablet war

A scratched coating heals itself

Primordial fear: why radiation is so scary

VIMS study shows propeller turbulence may affect marine food webs

Japan mulls safety certificate for seafood: report

US welcomes delay in controversial Mekong dam

Turkey to build water channel to bypass Bosphorus: PM

Calling all candidates for Concordia

Melting ice on Arctic islands a major player in sea level rise

ESA-NASA Collaboration Furthers Sea-Ice Research

Melting ice on Arctic islands boosts sea levels: study

Rural development gets help from the sky

Rising food costs could fuel Asian poverty

Can biochar help suppress greenhouse gases

Rotten meat doesn't stand a chance

Rain is Colombia's 'worst' natural disaster: Santos

'Right' to shut down air space over Iceland volcano: study

One injured in Indonesian quake

Japan launches new mass search for bodies

Nigeria holds final polls despite violence

Burkina Faso president assumes defence post

Work on Sudan split continues

Chinese aid good for Africa: ministers

Evolution of human 'super-brain' tied to development of bipedalism, tool-making

Berlusconi, Sarkozy meet over migrants

Pope urges 'solidarity' with refugees from conflict

Walker's World: Europe's frontiers close

The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement