"Consumption remains solid"
- Azusa Kato, an economist at BNP Paribas
Japan's retail sales rose more than expected in May, said the Trade Ministry in Tokyo on Thursday. Sales gained 3.6 per cent from the same period last year.
"Consumption remains solid," said Azusa Kato, an economist at BNP Paribas in Tokyo.
"Looking ahead, there will be few positive factors for Japan's economy," Kato said. "Japan's economy probably won't go into a recession or stall, but it's unavoidable that the pace of expansion will slow."
Stocks closed in green the same day. The Nikkei 225 Stock Average gained 1.65 per cent, or 143.62 points, to 8,874.11. The broader Topix Index added 1.79 per cent, or 13.33, to 758.81.
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