Retail sales in Japan increased 0.9% yoy in October 2021, rising for the first time in three months but fell short of a 1.1% consensus forecast, showing the gradual return of private consumption. Japan eased curbs on restaurant hours, large-scale events and border controls as infections dropped significantly and more than 75% of the population got fully vaccinated. However, lifted restrictions failed to spark a solid increase in Japanese consumption, with the government intending to boost the economy by announcing a record $490 billion stimulus package, including cash payouts to households with children and financial support to COVID-hit businesses. The pick up in retail activity came mainly from the rise in sales of fuel (25.9% vs 16.6% in September) and machinery & equipment (2.2% vs -4.2%); while sales in the fabrics apparel & accessories (-2% vs 2.3%) and motor vehicles (-19.5% vs -12.6%) declined. source: Ministry of Economy Trade & Industry (METI)

Retail Sales YoY in Japan averaged 4.29 percent from 1971 until 2021, 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 December of 2021.

Retail Sales YoY in Japan is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Retail Sales is projected to trend around 1.40 percent in 2022, according to our econometric models.

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Japan Retail Sales


Calendar GMT Actual Previous Consensus TEForecast
2021-10-27 11:50 PM Sep -0.6% -3.2% -2.3% -2%
2021-11-28 11:50 PM Oct 0.9% -0.5% 1.1% 1.2%
2021-12-26 11:50 PM Nov


Related Last Previous Unit Reference
Retail Sales MoM 1.10 2.80 percent Oct/21
Retail Sales YoY 0.90 -0.50 percent Oct/21

News Stream
Japan Retail Sales Rise Less than Expected
Retail sales in Japan increased 0.9% yoy in October 2021, rising for the first time in three months but fell short of a 1.1% consensus forecast, showing the gradual return of private consumption. Japan eased curbs on restaurant hours, large-scale events and border controls as infections dropped significantly and more than 75% of the population got fully vaccinated. However, lifted restrictions failed to spark a solid increase in Japanese consumption, with the government intending to boost the economy by announcing a record $490 billion stimulus package, including cash payouts to households with children and financial support to COVID-hit businesses. The pick up in retail activity came mainly from the rise in sales of fuel (25.9% vs 16.6% in September) and machinery & equipment (2.2% vs -4.2%); while sales in the fabrics apparel & accessories (-2% vs 2.3%) and motor vehicles (-19.5% vs -12.6%) declined.
2021-11-29
Japan Retail Sales Drop Less than Estimated
Retail sales in Japan fell by 0.6 percent year-on-year in September 2021, compared with market expectations of a 2.3 percent drop and following a 3.2 percent fall in the prior month. The latest figure marked the second straight month of decline in retail trade, amid the impact of the ongoing pandemic on consumption, with sales decreasing at a softer pace for general merchandise (-3.1 percent vs -9 percent in August), machinery & equipment (-4.5 percent vs -12.7 percent), and other (-3.8 percent vs -11 percent). At the same time, sales grew faster for fuel (16.4 percent vs 12.6 percent), and medicine & toiletry (1.1 percent vs 0.4 percent). Meanwhile, there was a rebound in sales of both fabrics apparel & accessories (2.5 percent vs -12.2 percent) and food & beverages (2.2 percent vs -1.1 percent). On a monthly basis, retail sales rose by 2.7 percent, shifting from a marginally revised 4.0 percent drop in August.
2021-10-28
Japan Retail Sales Decline More than Estimated
Retail sales in Japan fell by 3.2 percent year-on-year in August 2021, compared with market expectations of a 1 percent drop and after a 2.4 percent gain in the prior month. This was the first decline in retail trade since February, as consumption weakened due to a surge in infections of the Delta strain of COVID-19. There were falls in sales of general merchandise (-9 percent vs 1 percent in July), food & beverages (-1.4 percent vs 2.4 percent), fabrics, apparel & accessories (-12.1 percent vs 3.1 percent), machinery & equipment (-13 percent vs -2.8 percent); and others (-11 percent vs -4.7 percent). At the same time, sales growth eased for both fuel (12.9 percent vs 27.8 percent) and motor vehicles (1.5 percent vs 3.3 percent), while sales of medicine & toiletry were little changed (0.6 percent vs 0.5 percent). On a monthly basis, retail sales dropped by 4.1 percent in August, the first fall in three months, after a 1 percent gain in July.
2021-09-30

Japan Retail Sales
In Japan, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.