The Ministry of Economy, Trade and Industry reported on Wednesday that Japan's retail sales value increased by a seasonally adjusted 3.7% month-on-month in June, reaching 13.678 trillion yen. This exceeded expectations of a 3.3% rise, following a 2.8% gain in May. On a monthly basis, retail sales saw a growth of 0.6%.
Conversely, commercial sales experienced a monthly decline of 1.6% but grew 2.0% year-over-year, totaling 49.887 trillion yen. Wholesale sales fell 2.3% month-over-month but increased 1.3% annually, amounting to 36.209 trillion yen.
For the second quarter of 2024, retail sales showed a quarter-on-quarter increase of 1.8% and a year-over-year rise of 2.8%, accumulating to 40.632 trillion yen.
