Japanese retail sales grow 3.4% in May

Official data released Monday showed that retail sales in Japan grew 3.4% year-on-year last month, following a 3% increase in April.

The Japanese Ministry of Economy, Trade and Industry explained that total retail sales are measured by the value of sales from the beginning to the end of the month. It includes goods sold in stores and through advertising platforms such as catalogs, newspapers, magazines, television and radio stations, and the internet. It also includes sales by companies that sell their products directly to consumers or contract to sell them to them.

Bloomberg noted that strong growth in retail sales reflects increased consumer confidence, especially if it results from an increase in sales volume rather than a rise in prices. In this case, the growth in retail sales is a positive indicator for international retailers and analysts in Japan, such as chains: Fast Retailing, Rion Keikaku, Shiseido, Estée Lauder, L’Oréal, KVMH, Kering, and Asics, according to (DPA).