Retail sales in Japan inched up 0.1 percent year-on-year in June 2021, below market expectations of 0.2 percent and after an upwardly revised 8.3 percent in the prior month. This was the fourth straight month of growth in retail trade but the weakest pace in the sequence, as consumption weakened following the latest surge of local COVID-19 infections. Sales softened for motor vehicles (11.9 percent vs 36.4 percent in May); fuel (25.9 percent vs 34.8 percent); and medicine & toiletry (0.8 percent vs 2.1 percent). In addition, there were declines in sales of general merchandise (-4 percent vs 16.4 percent); fabrics, apparel & accessories (-12 percent vs 16.5 percent); machinery & equipment (-14.7 percent vs 12.6 percent); and others (-7.3 percent vs 0.8 percent). By contrast, sales of food & beverages picked up noticeably (0.9 percent vs flat reading). On a monthly basis, retail sales gained 3.1 percent in June, the most in four months, after a downwardly revised 0.3 percent in May. source: Ministry of Economy Trade & Industry (METI)
Retail Sales YoY in Japan averaged 4.32 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 July of 2021.
Retail Sales YoY in Japan is expected to be 10.50 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.