Japan’s retail down by 2.7% in December

One of the biggest drops in retail sales in Japan was reported in the month of December that was almost the fourth straight monthly decline in sales. The low sale reports came up even after the companies announcing to cut jobs to reduce spending.

As per the sales reports released on Thursday, sales slumped to 13.03 trillion yen and it is steepest decline after February 2005 after the sales had a drop of 0.9 % in the month of November.