Japan Retail sales for March: +1.2% m/m (expected 0.6%)

Japan Retail sales for March +1.2% m/m, second month in a row of rise.

• expected 0.6%, prior 3.1%

and +5.2% y/y

• expected 4.7% y/y, prior -1.5%

The rise in sales for a second month comes despite COVID-19-related restrictions. Perhaps the renewed state of emergency (and associated movement reduction & store hours reductions) will not impact as much as it might have? This time around the measures are stricter though.