Japan's retail sales extend slump as coronavirus curbs keep shoppers away

Retail sales in Japan tumbled at a double-digit pace for the second straight month in May as the coronavirus pandemic and lockdown measures delivered a heavy blow to consumer confidence and economic recovery prospects. Retail sales fell 12.3% in May from a year earlier, pulled down by a slump in spending on big ticket items such as cars as well as clothing and general merchandise, trade ministry data showed on Monday. Compared to a month earlier, retail sales in May saw their first rise in three months, increasing a seasonally adjusted 2.1% following a 9.9% drop in April.

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