FX.co ★ Japan’s Large-Scale Retail Sales Growth Cools to 2.0% in March YoY

Japan’s large-scale retail sales growth slowed in March 2026, with the year-over-year increase easing to 2.0%, down from 3.0% in February. The latest data, updated on April 29, 2026, highlight a moderation in consumer spending at major retailers after stronger gains earlier in the year.

Both the current and previous readings are calculated on a year-over-year basis, comparing each month’s performance with the same month a year earlier. The February 2026 figure showed large-scale retail sales up 3.0% versus February 2025, while March 2026 sales were 2.0% higher than in March 2025, signaling a deceleration in the pace of annual growth.

The softer expansion in March suggests that momentum in Japan’s large-scale retail sector may be losing some strength after a more robust start to the year, an important development for analysts tracking the resilience of consumer demand in the country’s wider economy.