Japanese Retail Sales Rise in 8th Month Thanks to Picking Up Tourism

Tuesday’s data showed Japan’s retail sales rose for the eighth consecutive month in October after borders were fully reopened. This is due to the removal of pandemic response measures this year.

However, there has been little growth since September as Japanese households are under pressure from the highest inflation rate in 40 years.

Retail sales were 4.3% higher in October than a year earlier, below the 5.0% expected by economists.

On a seasonally adjusted basis, retail sales rose by 0.2% in October compared with the previous month. This was the fourth month with an increase, but it was significantly lower than the 1.5% rise in September.

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