Retail sales in Japan rose 6.8% year-on-year in July 2023, accelerating from a downwardly revised 5.6% gain in June and exceeding the consensus forecast for a 5.4% growth. This was the 17th consecutive month of expansion in retail trade as consumption continued to recover from the pandemic-induced slump. Looking at the retail sector by industry, sales for other retailers increased the most (11%), followed by automobile retailers (8.1%), food retailers (8%), pharmaceuticals & cosmetics (6.8%), various product retailers (6.3%), machine equipment retailers (4.3%), non-store retailer s93.6%), textile, apparel & accessories retailers (3%) and fuel retailers (2.8%). On a monthly basis, retail sales increased by 2.1% in July, reversing from a 0.4% decline in June. source: Ministry of Economy Trade & Industry (METI)

Retail Sales YoY in Japan averaged 4.27 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 August of 2023.

Retail Sales YoY in Japan is expected to be 1.80 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 2.00 percent in 2024 and 3.00 percent in 2025, according to our econometric models.

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Japan Retail Sales



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-30 11:50 PM Jun 5.9% 5.8% 5.9% 5.5%
2023-08-30 11:50 PM Jul 6.8% 5.6% 5.4% 5.1%
2023-09-28 11:50 PM Aug


Related Last Previous Unit Reference
Retail Sales MoM 2.10 -0.40 percent Jul 2023
Retail Sales YoY 6.80 5.60 percent Jul 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
6.80 5.60 36.50 -14.30 1971 - 2023 percent Monthly
Current Prices, NSA

News Stream
Japan Retail Sales Growth Tops Forecast
Retail sales in Japan rose 6.8% year-on-year in July 2023, accelerating from a downwardly revised 5.6% gain in June and exceeding the consensus forecast for a 5.4% growth. This was the 17th consecutive month of expansion in retail trade as consumption continued to recover from the pandemic-induced slump. Looking at the retail sector by industry, sales for other retailers increased the most (11%), followed by automobile retailers (8.1%), food retailers (8%), pharmaceuticals & cosmetics (6.8%), various product retailers (6.3%), machine equipment retailers (4.3%), non-store retailer s93.6%), textile, apparel & accessories retailers (3%) and fuel retailers (2.8%). On a monthly basis, retail sales increased by 2.1% in July, reversing from a 0.4% decline in June.
2023-08-31
Japan Retail Sales Growth Matches Forecast
Retail sales in Japan grew 5.9% YoY in June 2023, accelerating slightly from an upwardly revised 5.8% increase in May and matching the consensus forecast. This was the 16th consecutive month of expansion in retail trade as consumption continued to recover from the pandemic-induced slump. Looking at the retail sector by industry, sales for the automobile sector increased the most (19.3%), followed by pharmaceuticals & cosmetics (9.5%), other retailers (7.6%), food & beverages (6.8%), department stores (4.6%) and non-store retailers (3.6%). On a monthly basis, retail sales declined by 0.4% in June, reversing from an upwardly revised 1.4% gain in May.
2023-07-31
Japan Retail Sales Growth Tops Estimates
Retail sales in Japan increased by 5.7 percent year-on-year in May 2023, accelerating from a marginally revised 5.1 % gain in the prior month and exceeding market expectations of 5.4 percent. This was the 15th straight month of growth in retail trade, as consumption strengthened following a full removal of pandemic measures. Sales continued to grow for general merchandise (3.9% vs 6.9% in April), food & beverages (6.6% vs 6.6%), motor vehicles (19.1% vs 14.9%), others (7.2% vs 8.9%), medicine & toiletry stores (10.8% vs 7.1%), and non-store retail business (4.4% vs -0.1%). By contrast, sales of fabric apparel & accessories fell further (-3.7% vs -0.6%), as did mechanical equipment (-5.6% vs -7.2%), and fuel (-1.8% vs -2.9%). On a monthly basis, retail sales rose by 1.3 percent, reversing from a marginally revised 1.1 percent fall in April.
2023-06-29