FX.co ★ Japan Retail Sales Growth Highest Since 2023

Japan’s retail sales rose 5.3% year-on-year in May 2026, accelerating from a revised 2.8% increase in April and beating market expectations of a 3.2% gain. This marked the strongest growth since November 2023, underpinned by government support measures, including a stimulus package designed to spur consumer spending and alleviate price pressures. On a month-on-month basis, retail sales climbed 1.9% in May, slightly below the revised 2.1% rise in April, which had been the fastest pace in four months.