6/29, 1:56 AM (Source: TeleTrader)
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Japan retail sales rise by 3.6% in May

Japan's retail sales surprised investors' expectations in May, rising by 3.6% on an annual basis to land at ¥12.38 billion, according to a preliminary report released on Wednesday by the country's Ministry of Economy, Trade, and Industry.

On a monthly basis, the sales value went up by 0.6%. The total value of commercial sales amounted to ¥45.24 billion, with 8.6% more goods sold compared to May 2021.

Meanwhile, the seasonally adjusted value of sales in the wholesale industry reached ¥32.85 billion, marking a year-on-year increase of 10.6%.

Baha Breaking News (BBN) / NL