Japan’s retail sales show a downward trend

Not buying: A customer browses shoes at a Workman store in Tokyo. Retail sales dropped in January by 2.4% preceded by a 0.2% fall in December. ─ Bloomberg

TOKYO: Japanese retail sales fell for the third straight month in February as households kept a lid on expenditure amid the coronavirus emergency, underscoring the fragile nature of the economy’s recovery from last year’s slump.

Analysts expect Japan’s economy sharply contracted in the first quarter, as lacklustre consumer spending and weakening exports create challenges for policymakers who have already rolled out massive stimulus.