Industry in Japan
Japan - Industry
Industrial production expands modestly in December
Industrial production expanded 0.5% in December compared to the previous month in seasonally-adjusted terms, below November’s 1.5% reading. December’s figure overshot analysts’ expectations of a 0.3% rise.
According to the Ministry of Economy, Trade and Industry, December’s growth in industrial production was driven by the transport equipment, chemicals and electronic parts and devices subsectors, while information and communication electronics equipment and general-purpose, production and business-oriented machinery subsectors subtracted from growth.
On an annual basis, industrial output rose 3.0% in December, below November’s 4.6% increase. The annual average variation in industrial production was minus 0.2% in December, up from the minus 0.7% registered in November.
The Survey of Production Forecast showed that manufacturers are becoming more optimistic. They now expect industrial output to have recorded a 3.0% month-on-month increase in January, ahead of the 2.2% growth forecast in the previous month’s survey. Manufacturers expect a more modest 0.8% rise in February.
FocusEconomics Consensus Forecast panelists see industrial production rising 2.1% in 2017, which is up 0.3 percentage points from the previous month’s forecast. For 2018, the panel expects industrial production to expand 1.3%.
Japan - Industry Data
|Industrial Production (annual variation in %)||-2.6||0.2||-0.6||2.1||-0.9|
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||0.10||4.40 %||Feb 16|
|Exchange Rate||113.2||-0.81 %||Feb 16|
|Stock Market||19,348||-0.47 %||Feb 16|
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February 13, 2017
Although the economy managed to expand for the fourth consecutive quarter in Q4, growth softened in the October-December period as a result of stagnating private demand.
February 9, 2017
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) rebounded in December and expanded at the fastest pace since June 2016.
February 2, 2017
Consumer sentiment in Japan rose marginally from December’s 43.1 to 43.2 in January, which marked the highest reading since September 2013.
January 31, 2017
Industrial production expanded 0.5% in December compared to the previous month in seasonally-adjusted terms, below November’s 1.5% reading.
January 31, 2017
The Bank of Japan (BoJ) maintained its monetary policy at its 30–31 January meeting, voting to continue with its Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control program as long as is necessary to achieve its 2.0% inflation target.