|Year over Year||0.8%||1.8%||-0.2%|
October unadjusted retail sales jumped 1.8 percent from a year ago after slipping 0.1 percent in September. All subcategories increased with the exception of fuel, down 13.1 percent. Motor vehicle sales were up 3.0 percent declining the month before. Machinery & equipment also rebounded from September's decline, increasing 0.3 percent. General merchandise sales were up 3.2 percent while food climbed 4.0 percent. Fabrics, apparel & accessories jumped 8.1 percent.
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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