Car Sales Slip in Japan

Passenger vehicle sales in Japan slipped about 1% to 518,800 units in September, according to industry data.

Vehicle production last month dropped nearly 7%, the Japan Automobile Manufacturers Assn. reports. Cutbacks were led by Nissan (21%), Toyota (10%) and Honda (5%).

JAMA says dealers are worried that the weak yen will push up the price of fuel and other imported goods, thus depressing consumer spending.

Bloomberg News notes that other sectors of Japan's economy appear to be slowing. The country's industrial production dropped 1.5% from July to August. Economists note that April's increase in Japan's consumption tax to 8% from 5% has hurt spending.