Japanese retail sales fell in May by the most in nearly two years, pointing to weaker consumption that could restrain any rebound in the economy following a contraction in the first quarter. Weak retail sales, despite a string of national holidays early in the month, underscore that strong consumption has yet to take hold in Japan. That’s holding back the export-dependent economy. After a 2 percent surge in March, wage gains fell back to trend in April with a moderate 0.8 percent increase. That means consumers don’t have much extra free cash for discretionary spending. Read more at Bloomberg.