Japan Retail Sales YoY

Retail sales in Japan increased by 1.4% year-on-year in February 2025, down from an upwardly revised 4.4% growth in the previous month, below market expectations of a 2% rise. This marked the 35th straight month of expansion in retail sales and the softest growth since last October, with rising wages continuing to support consumption. Sales grew for fuel (7.2%), automobile (6.2%), machinery & equipment (5.6%), clothing & personal goods (4.5%). By contrast, sales fell for food & beverage (-0.8%), non-store retailers (-0.2%), department stores (-4.5%), other retailers (-1.8%), and pharmaceuticals & cosmetics (-0.9%). On a monthly basis, retail sales climbed by 0.5% in February, easing from an upwardly revised in January.