Retail sales in japan decreased 1.9 percent year-on-year in August of 2020, following an upwardly revised 2.9 percent fall in the previous month and below market expectations of a 3.5 percent drop. It was the sixth consecutive month of falls in retail activity, amid the prolonged impact of the COVID-19 crisis that hit demand. Sales fell at a softer pace for general merchandise (-12.2 percent vs -12.3 percent in July); fabrics apparel & accessories (-17.4 percent vs -19.1 percent); motor vehicles (-14.1 percent vs -15.8 percent) and fuel (-7.1 percent vs -12.4 percent). Meantime, sales continued to rise for food & beverages (2.7 percent vs 1.4 percent); machinery & equipment (3.8 percent vs 8.1 percent) and medicine & toiletry stores (1.6 percent vs 1.2 percent). On a monthly basis, retail sales climbed 4.6 percent, recovering from a 3.4 percent fall in July. source: Ministry of Economy Trade & Industry (METI)
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 October of 2020.
Retail Sales YoY in Japan is expected to be -3.20 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 3.00 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.