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(RTTNews) – Retail sales in Japan were down 12.3 percent on year in May, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for a drop of 11.6 percent following the 13.7 percent decline in the previous month.

On a monthly basis, retail sales advanced a seasonally adjusted 2.1 percent on month – beating forecasts for a decline of 5.4 percent after sinking a downwardly revised 9.9 percent in April (originally -9.6 percent).