Japan's retail sales went below investors' expectations in March, down by a 1.2% on a monthly basis to land at ¥14.1 trillion (~$98.9 billion), according to a report released on Wednesday by the country's Ministry of Economy, Trade and Industry.

On an annual basis, the sales value went up by 3.1%, as the total value of commercial sales reached ¥57.1 trillion, with 3.5% more goods sold compared to March 2024.

Meanwhile, the seasonally adjusted value of sales in the wholesale industry reached ¥43.0 trillion, marking a year-on-year increase of 3.6%.