JP: Retail Sales

Sun Oct 29 18:50:00 CDT 2017

Consensus Actual Previous Revised
Year over Year 2.5% 2.2% 1.7% 1.8%

Retail sales in Japan advanced 2.2 percent on the year in September, up from an increase of 1.8 percent in August but falling short of the consensus forecast for an increase of 2.5 percent. This is the eleventh consecutive year-on-year increase in retail sales. Seasonally-adjusted retail sales rose 0.8 percent on the month, rebounding from a decline of 1.6 percent in August. Household spending data for September are scheduled for release later in the week.

Retail Sales measure the total receipts at stores that sell durable and nondurable goods. The data are part of the Preliminary Report on the Current Survey of Commerce.

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.