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.