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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: gregor_us who wrote (28580)	3/14/2005 12:43:19 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

All the news out of Japan and Germany lately has been, surprisingly, to the upside. Strongly to the upside. "All" of the news strongly to the upside? Does that include Japan falling back into a recession? Does that include GDP estimates for Germany, france and Europe lowered? how about this article from today? Tokyo Feb dept store sales fall 8.2 pct yr-on-yr, 37th decline in 39 months Monday, March 14, 2005 6:07:33 AM afxpress.com TOKYO (XFN-Asia) - Department store sales in Tokyo tumbled 8.2 pct in February from a year earlier, the 37th decline in 39 months and the biggest drop since March 1999, the Japan Department Stores Association said The association attributed the decline to fewer working days and fewer weekend shopping days this February than last, which was a leap year, as well as relatively cold weather which affected sales of spring clothing Tokyo area department store sales totaled 127.7 bln yen in February. The report, covering 27 department stores operated by 13 companies, is released about a week earlier than nationwide sales for both department stores and supermarkets, and is thus viewed as a leading indicator of nationwide consumer spending trends Consumer spending underpins about 55 pct of the economy, and is expected to pick up on a sustained basis due to the improving domestic labor market In February, the association said sales at Tokyo area department stores fell in six of the eight product categories Sales of sundries like jewellery and cosmetics, the third-largest category accounting for 17.6 pct of total revenue, rose 1.6 pct. And revenue from services, accounting for a tiny 1.1 pct of total sales, increased 14.7 pct But sales of clothing, the largest category accounting for about a third of total revenue, fell 15.2 pct. And sales of food, which accounted for a fifth of total revenue, dropped 7.5 pct Sales of personal belongings such as handbags, shoes and accessories, the fourth-largest category accounting for 12.5 pct of total revenue, fell 2.9 pct Sales of household appliances, the fifth-largest category accounting for 8.0 pct of total sales, fell 8.8 pct Sales by restaurants and cafeterias, accounting for 2.7 pct of revenue, fell 11.5 pct. And sales of miscellanous items, accounting for 2.5 pct of total revenue, fell 2.0 pct