Retail sales in Japan in May increased by 3.6% compared to the same month last year, according to data from the country’s Ministry of Economy, Trade and Industry. The rate of increase became the maximum for the year – since May 2021.

Analysts on average had expected a smaller increase of 3.3%, Trading Economics reported.

According to the revised data, the index rose 3.1% in April, not 2.9% as previously announced.

Consumption is recovering amid the Japanese government’s lifting of all coronavirus restrictions, experts said.

Sales of industrial goods in May jumped 20.7%, fuel – 15%, clothing and jewelry – 11.8%. Meanwhile, sales of food and beverages decreased by 0.2%, equipment – by 3.3%. Vehicle sales fell for the 9th straight month, down 10.1%.

Retail sales rose 0.6% last month versus April after rising 1% a month earlier.