|Year over Year||0.9%||0.9%||3.0%|
Sales increased for a third consecutive month. June retail sales were up 0.9 percent on the year. Sales were not as robust as they were in the prior two months with May increasing 3.0 percent and April, 4.9 percent. Four subindexes increased while four declined.
Auto sales were up for a third month, this time increasing 8.0 percent. Food & beverage sales were also up for a third month. They increased 3.1 percent. Machinery sales, however, slid 3.9 percent after increases of 8.8 percent in May and 11.1 percent in April. Fuel sales were down for the ninth straight month, dropping 10.7 percent in June.
Retail sales measure the total receipts at stores that sell durable and nondurable goods.
Another way to look at consumer spending in addition to the household spending survey is through the retail sales report. This report gives the total value of goods and services sold each month at retail outlets. The preferred number is the change from the previous year. The report serves as a direct gauge of consumption and consumer confidence. Consumer spending is one of the most important leading indicators for the Japanese economy. Increasing sales signal consumer confidence and economic growth, but higher consumption also leads to inflationary pressures.
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