Investing.com – Retail sales in Japan rose at a slower than expected rate in May, official data showed on Monday.
In a report, Japan’s Ministry of Economy, Trade and Industry said retail sales rose a seasonally adjusted 2.8% in May, after an increase of 4.9% in April.
Economists had expected an increase of 4.7%.
Following the release of the data the yen was down against the U.S. dollar, with USD/JPY rising 0.1% to hit 89.35.
In a report, Japan’s Ministry of Economy, Trade and Industry said retail sales rose a seasonally adjusted 2.8% in May, after an increase of 4.9% in April.
Economists had expected an increase of 4.7%.
Following the release of the data the yen was down against the U.S. dollar, with USD/JPY rising 0.1% to hit 89.35.