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Japan May Retail Sales +3.6% Y/Y; 3rd Monthly Rise

JAPAN DATA
MNI (Singapore)
  • Japanese retail sales rose 3.6% y/y in May, accelerating from the 3.1% y/y growth reported last month, marking the third monthly rise.
  • On a monthly basis, retail sales increased 0.6%.
  • General merchandise sales jumped 20.7% y/y, sharply up from the previous 8.0% y/y gain, while sales of fabric apparels and accessories increased 11.8% y/y after rising 9.7% y/y in April.
  • Sales of food and beverages edged down 0.2% y/y, compared with the 0.5% gain last month.
  • Fuel sales, another key driver, rose 15.0% y/y, quicker from the previous 13.8% y/y growth.
  • Sales of machinery and equipment registered a drop of 3.3% y/y, after increasing 0.8% y/y in April.
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