Japan retail sales rise 2.7%
The report from Japan's Ministry of Economy, Trade and Industry showed that retail sales in Japan increased by 2.7% last month to 13.05 trillion yen ($83.2 billion), despite expectations of a rise of up to 3.3%. Retail sales declined by 1.2% month-over-month at large retail stores, while they increased by 1% annually. Additionally, industrial production contracts by 1.7% month-over-month in the same period, contrary to the forecast of a 1.4% increase. On an annual basis, industrial output rose by 3.4%. The data indicates partial economic stability, despite fluctuations in certain sectors, with ongoing expected volatility in the industrial production index.
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