Monthly commercial sales in May dipped 6.1 percent year-on-year to 42.41 trillion yen, marking a record 23 consecutive months of decline, according to a preliminary report issued Thursday by the Ministry of International Trade and Industry.
Of the total, wholesale sales accounted for 31.44 trillion yen, down 7 percent on a year-on-year basis, marking a consecutive decline of 20 months. Retail sales also slipped 3.5 percent year-on-year to 10.97 trillion yen, down for a record 26 straight months.
MITI officials attribute the wholesale decline in particular to poor performance by trading companies hard-hit by the nation's sluggish import and export situation as well as dormant domestic business activities.
Retail sales also suffered as sales of personal computers and clothing saw large declines.
Ministry officials described the recent trend in retail and wholesale activities as "steadily bad." But they added that retail sales may improve in June, as PC sales are bouncing back, air conditioners are picking up and a new hair-growth product is booming.
However, wholesale sales will likely remain in the structural downward spiral, due largely to continuing poor demand from industrial circles, they said.