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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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Posted by Staff at 7:16 am UTC, 05/24/2012
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May
24
Today’s Global
Market Events
8:30am

CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am

EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am

USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm

USD
FOMC Member Dudley Speaks
3:00pm

USD
Treasury Sec Geithner Speaks
7:30pm

JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%