Retail sales growth in Japan exceeded forecasts in April

Investing.com – Retail sales in Japan in April rose by 1.4% compared to March, according to preliminary data of the Ministry of Economy, Trade and Industry of Japan. A month earlier, a decrease of 0.6% was noted.

The rate of increase significantly exceeded forecasts. Experts interviewed by the agency Bloomberg, on average, forecast April’s growth in retail sales at 0.5%.

The increase in sales compared to last April was 1.6% (1% in March), with analysts expecting an increase of 1%.

Sales of department stores and supermarkets in April fell by 0.8% in annual terms after an increase of 0.1% in March.

More active growth of retail sales is necessary for the Japanese economy, largely export-oriented. Strengthening ща consumer demand with the gradual acceleration of the rate of increase in wages could support the economic recovery and inflation in Japan, analysts say.

The index of consumer confidence in Japan, calculated by the Cabinet, in May this year rose to 43.8 points from April 43.6 points.