Japan Industry


Industrial production moderates in April

In April, industrial production expanded 0.2% over the previous month in seasonally adjusted terms, undershooting both the 1.3% rise observed in March (previously reported: +1.0% month-on-month) and market expectations that had industrial output expanding 0.5%. On an annual basis, industrial production increased a solid 13.4% in April, which was, nevertheless, below the 14.2% expansion observed in March. The strong annual print was boosted by a low base of comparison due to a plunge in output in the same month last year amid the aftermath of the 11 March 2011 earthquake. According to the Ministry of Economy, Trade and Industry, the monthly reading was mainly affected by higher output of transport equipment and electrical machinery, which were partially offset by lower production of information and communications electronics as well as of electronic parts and devices. That said, the government maintained its optimistic assessment on Japan's industrial production, citing

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Japan Industry Chart

Japan Industry April 2012

Note: Month-on-month changes of seasonally adjusted industrial production and year-on-year growth rate in %.
Source: Ministry of Economy, Trade and Industry (METI) and FocusEconomics calculations.

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