Japan's April retail sales rebound, easing pressure on BOJ

Tokyo

JAPAN'S retail sales rebounded modestly in the year to April after three straight months of falls, bolstering the central bank's case that consumer spending is reviving to underpin a steady economic recovery.

The data adds to signs of improvement in consumer confidence and eases pressure on the Bank of Japan (BOJ) to expand its massive stimulus programme in the near term, analysts say. Retail sales in April rose 5.0 per cent from a year earlier, trade ministry data showed on Thursday, slightly below a median market forecast for a 5.4 per cent increase. It followed a 9.7 per cent drop in March.