Busy period: Shoppers walk past illuminated Christmas trees in the Marunouchi district of Tokyo. Japan’s retail sales rose as the world’s third-largest economy is set to rebound. — Bloomberg
TOKYO: Japan’s retail sales rose faster than expected in November, thanks to decreasing Covid-19 cases in the month, which have encouraged shoppers to ramp up spending on goods and services.
To support the economy, Japan’s parliament last week passed a US$317bil (RM1.33 trillion) extra budget that includes payouts to families and businesses hit by the pandemic while the government approved a record US$940bil (RM3.9 trillion) budget for fiscal 2022.
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