Japanese Retail Sales decreased in March for the seventh straight month according to a report by the Japanese Ministry of Economy, Trade and Industry released overnight. 
March retail sales fell 3.9 percent to 11.7 trillion yen on an annual basis following February’s 5.7 percent annual decrease and January’s 2.4 percent annual fall.
On a seasonally adjusted monthly basis, retail sales fell 1.1 percent in March after declining by a revised 0.2 percent in February. On a quarterly basis, Japanese retail sales decreased by 4.0 percent in the first quarter of 2009 to 32.5 trillion yen.
The retail sales data fell more than forecasted on a monthly basis in March as expectations were for a 0.4 percent monthly decline. Retail sales fell less than forecasted on an annual basis with market forecasts predicting a 4.7 percent annual decline.
Retail sales at large retailers, including department stores and supermarkets, fell 8.1 percent on an annual basis in March and about equaled February’s decline. Also showing declines in March were sales of clothing, machinery & appliances, cars and fuel.
