2025年3月，日本零售额同比增长3.1%，低于上个月下调后的1.3%的增长率，低于市场预期的3.5%的增长率。这标志着零售销售连续第36个月扩张，工资上涨继续支持消费。燃料（1.8%）、汽车（1.5%）、机械设备（6.7%）、服装和个人用品（7.6%）、食品和饮料（1.9%）、非商店零售商（3.1%）、其他零售商（4.1%）和药品和化妆品（3.7%）的销售额增长。相比之下，百货商店的销售额下降了（-1.2%）。按月计算，3月份零售额下降了1.2%，这是三个月来的首次月度下降，扭转了2月份向下修正的0.4%的增长。

Retail sales in Japan increased by 3.1% year-on-year in March 2025, down from a downwardly revised 1.3% growth in the previous month, below market expectations of a 3.5% rise. This marked the 36th straight month of expansion in retail sales, with rising wages continuing to support consumption. Sales grew for fuel (1.8%), automobile (1.5%), machinery & equipment (6.7%), clothing & personal goods (7.6%), food & beverage (1.9%), non-store retailers (3.1%), other retailers (4.1%), and pharmaceuticals & cosmetics (3.7%). By contrast, sales fell for department stores (-1.2%). On a monthly basis, retail sales fell by 1.2% in March, the first monthly decline in three months, reversing a downwardly revised 0.4% gain in February.

日本零售贸易协会（月环比）：-1.2%（3月），此前为0.5%。日本零售贸易协会（月环比）：-1.2%（3月），此前为0.5%

Japan Retail Trade s.a (MoM): -1.2% (March) vs previous 0.5%.Japan Retail Trade s.a (MoM): -1.2% (March) vs previous 0.5%

闪存数据显示，2025年3月，日本工业生产环比下降1.1%，扭转了前一个月2.3%的增长，低于市场预期的0.4%的下降。这是今年迄今为止的第二次下降，主要受机动车产量下降（2月份为-5.9%对0.2%）、电机和信息通信电子设备产量下降（-4.4%对1.1%）以及通用和商用机械产量下降（-5.0%对0.3%）的拖累。按年度计算，继2月份增长0.1%之后，3月份工业产出下降0.3%，这是今年首次出现年度下降。

Japan’s industrial production declined by 1.1% month-over-month in March 2025, reversing a 2.3% gain in the previous month and missing market expectations of a 0.4% decline, flash data showed. It marked the second decrease so far this year, mainly dragged by lower output of motor vehicles (-5.9% vs 0.2% in February), electrical machinery, and information and communication electronics equipment (-4.4% vs 1.1%), and general-purpose and business oriented machinery (-5.0% vs 0.3%). On a yearly basis, industrial output shrank 0.3% in March, following a 0.1% rise in February and marking the first annual drop this year.

日本大型零售商销售额从之前的2%增长到3月份的3%。日本大型零售商销售额从之前的2%增长到3月份的3%

Japan Large Retailer Sales increased to 3% in March from previous 2%.Japan Large Retailer Sales increased to 3% in March from previous 2%