Tourism helps boost Japan’s retail sales

Japan’s retail sales have risen for the 11th consecutive month, with department-store sales boosted by demand from tourists.

September’s retail sales increased 2.2 per cent year on year, but this was only 0.8 per cent up on August.

Department stores and supermarkets saw sales rise 1.9 per cent from a year earlier.

Meanwhile, the Bank of Japan has started a two-day policy meeting at which it is expected to discuss its target to generate 2 per cent inflation and a self-sustaining economic recovery, Bloomberg reports. At its last meeting, the central bank cautioned that the growth in domestic demand would “likely remain moderate”.

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