Japan's retail trade declined by 1.2 percent year-on-year in June 2020, after a revised 12.5 percent slump a month earlier and compared with market consensus of a 6.5 percent fall. This was the fourth 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 (-11.2 percent vs -35.2 percent in May), fabrics apparel & accessories (-6.7 percent vs -34.6 percent), motor vehicles (-17.2 percent vs -35.1 percent), and fuel (-14.6 percent vs -28.4 percent). In contrast, sales rebounded for machinery & equipment (15.9 percent vs -6.2 percent). Meanwhile, sales of food & beverages increased 3.0 percent after rising 1.9 percent. On a monthly basis, retail sales jumped 13.1 percent in Jun, the most on record.
Retail Sales YoY in Japan averaged 4.38 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 August of 2020. source: Ministry of Economy Trade & Industry (METI)
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.