Japan data today – preview of the retail sales data

Forex

Due from Japan today at 2350GMT

Retail Trade data for April

For the m/m,

  • expected -0.2%, prior +0.2%

y/y,

  • expected 2.3%, prior 2.1%

This brief preview is via HSBC:

  • Retail sales rose by 2.1% y/y in March, extending the streak of expansion to the fifth month, implying gradually improving private consumption
  • Seasonally adjusted, it grew by 0.2% on the month
  • Although we believe that private consumption is recovering structurally, we think that following five months of sequential gains, in April, retail sales fell by 0.8% m/m (sa)
  • This translates to a 1.0% y/y (sa) gain

ps. ‘sa’ is seasonally adjusted, something statisticians do to torture the data.
 

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