|
Retail sales fell 0.3 percent in July from a year earlier for the first decline in three months. Sales of clothing and other items sagged, while food sales rose. The relatively overall data from July will likely bolster support for pushing ahead with a sales tax planned for April 1, 2014. A decision on that plan is due within the next month. The anticipated 3 percent increase in the nationwide sales tax, to 8 percent, will undoubtedly be a blow, Ishioka said, but she expects it to be short-lived given the current relatively favorable trends. "People's sentiment is improving. I think the fundamental conditions are OK," she said.
[Associated
Press;
Copyright 2013 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.