Retail in Asia

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Japan consumer confidence fell in May for 2nd straight month

Consumer confidence in Japan worsened in May for the second straight month amid rising prices of goods such as food, data showed Tuesday, prompting the government to downgrade its assessment.

The seasonally adjusted index of sentiment among households made up of two or more people fell 0.1 points from April to 41.4, the Cabinet Office said.

The government downgraded its basic assessment of the index, saying the pace of a pickup in consumer confidence is "becoming moderate." Last month, the government said consumer confidence was "picking up".