Japan's retail sales expanded 5.3% year over year in May to 13.45 trillion yen, according to preliminary data from the Ministry of Economy, Trade and Industry on Monday.
The reading beat the consensus forecast of 3.1% growth tracked by Investing.com, and compared with a 2.8% increase recorded in the previous month.
On a seasonally adjusted month-over-month basis, retail sales grew 1.9%, faster than the 1.3% expansion between March and April.
Cargo traffic at the Port of Los Angeles is expected to rise in the week ending July 11, according to data from ship-tracking system Port Optimizer.A total of 141,100 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects an 18% increase from the previous week and a 19% rise from a year earlier.Twenty-six freight vessels are scheduled to arrive at the port in the week ending July 11, the data showed. That compares with 23 vessels scheduled this week and in the week ending July 4.President Donald Trump said in a Truth Social post on Friday that numerous European countries are discussing the imminent implementation of a digital services tax on US companies and warned that any country that proceeds with such a tax will face a 100% US tariff regardless of any previous trade deals.
The Kansas City Federal Reserve's monthly composite services index fell to a reading of 5 in June after rising to 10 in May, suggesting a slower expansion.The other regional services measures already released have indicated a mixed reading.There was a decrease in the Kansas City revenue/sales reading to 3 from 12, while the employment reading decreased to 1 from 5.The reading of selling prices declined to 16 from 20, while the input price index decreased to 51 from 54. A reading above zero indicates growth.