Japan’s retail sales dipped 2.9 percent last month, falling for the eighth straight month, as consumers stayed cautious amid growing jitters about jobs and wages.
Sales at big retailers — a narrower category that includes supermarkets and department stores — fell 6.7 percent from a year earlier in the 13th straight month of retreat, the Ministry of Economy, Trade and Industry said yesterday.
The figures underscore how the nation’s steepest recession since World War II is now extending its reach to workers and households.
PHOTO: BLOOMBERG
Like its Asian neighbors, Japan has been battered by the unprecedented collapse in global demand triggered last year by the US financial crisis. Manufacturers such as Toyota Motor Corp and Sony Corp have had to suspend production, cut thousands of jobs and reduced wages.
Toyota, the world’s biggest automaker, said yesterday its global vehicle production tumbled 46.5 percent last month from a year ago to 433,979 vehicles amid few signs of relief for the beleaguered industry.
Honda Motor Co, the nation’s No. 2 automaker, fared slightly better because of strong sales of its Insight hybrid and Fit subcompact in Japan, where Honda’s sales last month rose for the first time in six months.
Honda made 231,399 vehicles last month, down 29.7 percent on year and marking the sixth straight month of on-year decreases that began in November.
Nissan Motor Co, allied with Renault SA of France, saw its production decline across the globe, except for China, and made 183,248 vehicles worldwide last month, down 38.2 percent from the same month the previous year.
Global production for Mitsubishi Motors Corp last month totaled 46,289 for the 14th straight monthly decline, marking a 54.3 percent drop over last year.
Mazda Motor Corp also reported a drop in global production at 63,307 vehicles, down 43.8 percent on year.
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