Japan's retail trade declined by 12.3 percent year-on-year in May 2020, after a revised 13.9 percent slump a month earlier and compared with market consensus of an 11.6 percent fall. This was the third straight month of a drop in retail trade, amid the prolonged impact of the COVID-19 crisis that hit demand. Sales continued to fall for general merchandise (-34.9 percent vs -42.9 percent in April), fabrics apparel & accessories (-34.3 percent vs -54.1 percent), motor vehicles (-35.2 percent vs -23.7 percent), machinery & equipment (-5.8 percent vs -13.5 percent), fuel (-28.6 percent vs -22.1 percent), and others (-4.2 percent vs -9.1 percent). Also, sales of medicine & toiletry fell 3.1 percent, following a 3 percent gain in April. In contrast, sales of food & beverages grew further (2.2 percent vs 0.3 percent). On a monthly basis, retail sales rose by 2.1 percent in May, the first increase in three months, after a revised 9.9 percent tumble in April.
Retail Sales YoY in Japan averaged 4.39 percent from 1971 until 2020, reaching an all time high of 36.50 percent in January of 1979 and a record low of -14.30 percent in March of 1998. This page provides the latest reported value for - Japan Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Retail Sales - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Ministry of Economy Trade & Industry (METI)
Retail Sales YoY in Japan is expected to be -4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Japan to stand at 1.00 in 12 months time. In the long-term, the Japan Retail Sales is projected to trend around 1.20 percent in 2021 and 1.40 percent in 2022, according to our econometric models.