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Retail sales in Japan rose by 0.9% yoy in March 2022, exceeding market consensus of a 0.4% and following revised 0.9% drop a month earlier. The latest reading marked the second growth in retail trade in the past three months as consumption recovered following an improvement in COVID-19 situation, with sales rebounding for both general merchandise (1.8% vs -1.7% in February) and others (1.4% vs -0.7%). In addition, sales of medicine & toiletries grew faster (4.1% vs 3.3%), while those of fuel continued to expand (15.2% vs 21%). At the same time, sales of food & beverages were flat after falling in the prior two months. Meantime, sales fell at a softer pace for fabric apparel & accessories (-0.6% vs -3.5%), motor vehicles (-6.6% vs -15.1%), and machinery & equipment (-3.4% vs -8.1%). On a monthly basis, retail sales increased 2.0% in March, the first growth in four months, after a revised 0.9% fall in February.