Japan's retail sales rose for the third consecutive month, benefiting from wage increases and subsidies.

Jinse Finance reported that on June 29, driven by rising wages and government subsidies easing living costs, Japan's retail sales achieved growth for the third consecutive month in May. Data released by Japan’s Ministry of Economy, Trade and Industry on Monday showed that retail sales in May increased by 1.9% compared to the previous month, and the revised April data also showed strong growth momentum. This figure exceeded all economists’ expectations in Bloomberg’s survey. Compared to the same period last year, retail sales grew by 5.3%, surpassing the market's expected increase of 3%. The above data have not been adjusted for inflation.