Retail in Asia

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Japan Jun retail sales beat estimates, but consumers cautious

Retail sales in the world’s third-largest economy rose an annual 0.9 percent in June, beating expectations for a 0.5 percent rise but still slowing sharply from the previous month, government data showed on Wednesday.

June’s report marked the second month of weakening demand; retail sales rose 3 percent on year in May, down from April’s 5 percent gain.

"The renewed drop in retail sales in June adds to the evidence that consumer spending fell last quarter," said Marcel Thieliant, Japan economist at Capital Economics, in a note.

(Source: CNBC)