Despite high inflation, Japan's retail sales grew at a faster pace in May suggesting strong contribution by private consumption to economic growth, official data revealed Thursday.
Elsewhere, a monthly survey published by the Cabinet Office showed that consumer confidence improved to an 18-month high in June as households were more positive about income growth and employment.
Retail sales registered an annual growth of 5.7 percent in May after rising 5.1 percent in April, the Ministry of Economy, Trade and Industry reported.
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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.