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Japan April retail sales rise 5.0% year-on-year
[TOKYO] Japanese retail sales rose 5.0 per cent in April from a year earlier, less than a median market forecast for a 5.4 per cent increase, government data showed on Thursday.
In April last year, the government increased the sales tax to 8 per cent from 5 per cent. The move took a severe hit on private consumption and nudged the economy into recession.