Retail sales in Japan fell in April following its first rise in sales tax in 17 years. The 4.4% fall followed an 11% rise in sales in March as customers raced to make purchases ahead of the tax increase.
Japan raised the sales tax from 5% to 8% on April 1st as a response to its aging population, high public debt and almost two decades of deflation.
Sales are expected to pick up in the coming months, particularly in the second half of the year.
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