Industry in Japan
Japan - Industry
Industrial production contracts in March
Industrial production in Japan fell 2.1% in March compared to the previous month in seasonally-adjusted terms, contrasting February’s eight-month high of a 3.3% increase. March’s mark undershot analysts’ expectations of a 1.0% drop.
According to the Ministry of Economy, Trade and Industry, March’s decline in industrial production was driven by the general-purpose, production and business-oriented machinery, electronic parts and devices and transport equipment categories, while the production of pulp, paper and paper products, information and communication electronics equipment and non-ferrous metals grew.
On an annual basis, industrial output rose 3.3% in March, coming in below February’s 4.7% increase. Annual average growth in industrial production ticked up from 0.8% in February to 1.1% in March.
The Survey of Production Forecast showed that manufacturers are becoming more pessimistic. They now expect industrial output to have recorded a 8.9% monthly increase in April, below the 9.8% rise forecast in the previous month’s survey. Manufacturers expect a 3.7% decline in March.
FocusEconomics Consensus Forecast panelists see industrial production rising 1.8% in 2017, which is up 0.2 percentage points from the previous month’s forecast. For 2018, the panel expects industrial production to expand 1.5%.
Japan - Industry Data
|Industrial Production (annual variation in %)||-2.6||0.2||-0.6||2.1||-1.2|
5 years of economic forecasts for more than 30 economic indicators.
Japan Industry Chart
Source: Ministry of Economy, Trade and Industry and FocusEconomics calculations.
|Bond Yield||0.04||22.86 %||May 10|
|Exchange Rate||114.3||0.26 %||May 10|
|Stock Market||19,900||0.29 %||May 10|
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Industrial production in Japan fell 2.1% in March compared to the previous month in seasonally-adjusted terms, contrasting February’s eight-month high of a 3.3% increase.