Japan's retail sales grew for the third straight month in May despite continuing restrictions related to the pandemic and the unemployment rate rose further, official data revealed Tuesday.
Retail sales grew at a pace of 8.2 percent year-on-year in May, but slower than the 11.9 percent increase in April, data released by the Ministry of Economy, Trade and Industry showed.
However, the annual growth rate was faster than the expected increase of 7.9 percent and marked the third consecutive increase.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.