Japanese retail sales rose 5.2 per cent year-on-year in the month of March, representing the fastest pace of growth in five months.
After suffering a huge hit due to the ongoing Coronavirus pandemic last year, retail sales in Japan are finally on the rebound, recording a 5.2 per cent rise as consumer demand continues to grow.
Japan, the world’s third-largest economy, has beat the median market forecast of 4.7 per cent growth with the fastest rise since a 6.4 per cent jump recorded in October and the first positive growth seen for four months. In comparison with the previous month, retail sales have risen 1.2 per cent on a seasonally adjusted basis.
Fashion items were one of the categories that drove growth in March and department stores also performed well, posting a 19.3 per cent jump in sales.
