Japan retail sales top expectations in June

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Japanese retail sales have beaten expectations in June.

From a year earlier sales increased by 0.9% to 11.457 billion yen, above the median market forecast for a rise of 0.5%.

In the 12 months to May sales rose 3.0%.

Motor vehicle sales, up 8% to 1.482 billion yen, recorded the largest percentage increase from a year earlier. At the other end of the spectrum fuel sales slipped 10.7% to 941 million yen on the back of lower crude oil prices.

Food and beverage sales, the largest component of total retail sales, rose by 3.1% to 3.798 billion yen.

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