Japanese retail sales rebound in April, but still miss expectations

Photo: Getty Images.

Japanese retail sales for April have just been released, and they’ve missed slightly to the downside.

From a year earlier sales increased by 5.0%, below expectations for a gain of 5.4% but well ahead of the 9.7% sales tax-induced slump recorded in the year to March.

According to the Japanese Ministry of Economy, Trade and Industry commercial and wholesale sales increased by 2.7% and 1.8% respectively while sales at large retailers jumped 8.6% from a year earlier.

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