Japan retail sales fell more than expected in February, declining by 2.3% from a year earlier following a 1.1% drop the previous month, according to the Ministry of Economy, Trade and Industry. In contrast, most analysts had predicted a 1.2% dip. Large-scale retailers experienced even bigger losses, with sales plummeting 3.7% from the previous year after a 3.5% fall in January.
"We are seeing more optimism with the Japanese consumers and households," said Martin Schulz of Fujitsu Research Institute in Tokyo."They are now hopeful that Mr Abe's policies will help revive Japan economy and put it back on a growth track."