Japan’s retail sales recover in June

| July 28, 2011 | 0 Comments

The Trade Ministry has today revealed Japanese retail sales rose 1.1% in June on an annual basis – the first gain since the earthquake and tsunami struck in March.

On a monthly basis, meanwhile, sales were 2.9% higher.

The figures exceeded analysts’ expectations and suggest the world’s third largest economy is slowly recovering after the twin disasters.

The figures come just a week after it was revealed Japan’s exports recovered in June.

Exports rose by 5.4% on a monthly basis but were 1.6% lower on an annual basis – but this represented the slowest fall in four months.

Analysts had forecast a fall of 4.1% after exports plunged 10.3% on an annual basis in May.

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