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by ForexNewsNow Team on December 28, 2010

Japan retail sales rise far higher than initial forecasts

forex analysis global forex fx trader retail salesNEW YORK (Forex News Now) – Japanese retail sales rose unexpectedly in November, data showed on Monday in one of the day’s major realtime forex news events affecting the yen.

In a report likely to impact currency market trading, the Ministry of Economy, Trade and Industry said the total value of sales at the retail level rose by an annualized 1.3%, up from the mark of -0.2% recorded in October.

Analysts had expected the November figure to come in at just 0.4%, two major online FX trading sites reported.

Retail sales are the primary indicator of consumer spending, which accounts for most of economic activity.

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