Japan’s retail sales fall in May
Official data has today revealed Japan’s retail sales fell last month, by 1.3% on an annual basis, albeit the fall was less than the 2.6% expected.
The latest figures suggest the country is slowing recovering from March’s earthquake and tsunami as the rate of decline starts to ease.
One analyst said the hot weather last month boosted sales of summer clothing and this is expected to continue through June and beyond.
The twin disasters meant consumers stayed at home as stores were forced to close due to power shortages. This led to the worst fall in retail sales in more than a decade in March.