The industrial sector continues to rebound from the 11 March earthquake. In May, industrial production grew 5.7% over the previous month in seasonally adjusted terms, following the 1.6% increase tallied in April (previously reported: +1.0% month-on-month). The increase marked the fastest expansion in almost 60 years and came in above expectations, with markets anticipating a 5.5% expansion. Compared to May last year, industrial production slipped 5.9% (April: -13.6% year-on-year). The monthly rebound was mainly supported by a strong rise in production of automobiles and electronic equipment. The transportation industry gained 36.4% over the previous month (April: -1.9% month-on-month), while information and communication electronics equipments expanded 14.0% (April: -16.7% mom). The May report suggests that supply chain disruptions are ending, as industrial production is quickly ramped up again and that the awaited V-shaped recovery is well on track. According to the Survey of Production Forecast released on 28 June, manufacturers are still upbeat and see industrial output expanding 5.3% over the previous month in June (previously expected: +7.7% mom). However, analysts expect industrial production to increase only 0.5% in July amid concerns about potential power shortages in the coming months due to expectations of a hot summer.
Industrial production bounces back from post-quake disruptions
June 28, 2011
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Japan Economic News
October 24, 2016
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) rose from September’s revised 50.4 (previously reported: 50.3) to 51.7 in October.
October 24, 2016
In September, nominal exports valued in yen declined 6.9% from the same month last year, which followed August’s 9.6% decline.
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Core machinery orders (a leading indicator of capital spending over a three- to six-month period) declined for the first time in three months in August.
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Consumer sentiment rose from August’s 42.0 to 43.0 in September.
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