Forex Blog

July 28, 2011

Japan’s retail sales rise

Retail sales in Japan have risen for the first time since the earthquake and tsunami hit the country in March.

According to the latest official data, retail sales rose 1.1% in June from a year earlier, indicating that the economy is beginning to recover.

The rise comes after three successive months of falling sales as consumers stayed away from shops in wake of the devastation caused.

Compared with the previous month, retail sales rose by 2.9%.

Analysts said the data indicated that things were starting to return to normal in Japan.

“You should expect a bounce back to where things were before the earthquake and tsunami struck,” said Richard Jerram of Bank of Singapore.

BBC News

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