Japan Retail Sales Climb 3.0% On Year In May

(RTTNews) - The total value of retail sales in Japan was up 3.0 percent on year in May, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 13.504 trillion yen.

That exceeded expectations for an increase of 2.0 percent, which would have been unchanged from the April reading following a downward revision from 2.4 percent.

On a monthly basis, retail sales jumped a seasonally adjusted 1.7 percent after rising 0.8 percent in the previous month.

Sales from large retailers were up 1.7 percent on month and 4.0 percent on year after gaining 1.2 percent on month and 3.0 percent on year a month earlier.

Commercial sales were up 2.0 percent on month and 5.6 percent on year at 48.947 trillion yen, while wholesale sales added 2.3 percent on month and 6.7 percent on year at 35.443 trillion yen.