In December, there was a year-on-year increase of 2.1% in the total value of retail sales in Japan, reaching 15.515 trillion yen as stated by the Ministry of Economy, Trade and Industry. This, however, fell short of the predicted rise of 4.7% following November's 5.4% surge.
On a monthly basis, retail sales saw a decrease of 2.9%. Commercial sales experienced a slight growth, with a year-on-year increase of 0.4% and a monthly climb of 0.6%, resulting in a total of 55.106 trillion yen. Conversely, wholesale sales underwent a 0.2% year-on-year decline but saw a yearly increase of 2.3%, totaling 39.591 trillion yen.
Looking at the fourth quarter of 2023, retail sales rose by 3.8% over the year but declined 1.7% over the quarter, finishing off at 42.989 trillion yen. For the entirety of 2023, retail sales exhibited a 5.6% growth, ending up at 162.996 trillion yen.
