Retail sales in Japan increased by 5% year-on-year in April 2023, slowing from a revised 6.9% gain in March and missing expectations for a 7% growth. Still, it was the 14th consecutive month of expansion in retail trade as consumption in the country continued to recover from the pandemic slump. Looking at retailers by industry, automobile retail increased by 15.1%, followed by other retail industries (8.7%), drug & cosmetic retailers (7%), department stores (6.9%), food retailers (6.6%) and non-store retailers (0.2%). Meanwhile, machinery & equipment retail decreased by 6.9%, fuel retail dropped 3.3% and clothing & personal goods declined 1.3%. On a monthly basis, retail sales dropped 1.2%, the first contraction in five months. source: Ministry of Economy Trade & Industry (METI)
Retail Sales YoY in Japan averaged 4.26 percent from 1971 until 2023, 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 June of 2023.
Retail Sales YoY in Japan is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.