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| Japanese retail sales rise more than expected | Japanese retail sales rise more than expected |
| (40 minutes later) | |
| Japanese retail sales rose more than expected in February, indicating that consumer confidence is improving. | Japanese retail sales rose more than expected in February, indicating that consumer confidence is improving. |
| Retail sales rose 3.5% from the same month a year earlier, the href="http://www.meti.go.jp/english/statistics/tyo/syoudou/index.html" >Trade Ministry said. Analysts were expecting a jump of 1.3%. | |
| Sales were up 1.9% in January compared to the previous year. | Sales were up 1.9% in January compared to the previous year. |
| Analysts said the latest retail figures, in addition to a recovery in equity markets, showed that the Japanese economy was picking up. | Analysts said the latest retail figures, in addition to a recovery in equity markets, showed that the Japanese economy was picking up. |
| The Nikkei 225, the main Japanese share index, rose to pre-earthquake levels this week. | |
| "I think consumers feel more comfortable with the current situation," said Masamichi Adachi from JP Morgan in Tokyo. | |
| A government subsidy for fuel-efficient cars has also been helping to boost domestic demand. |