Japan Industry


Industrial production rebounds less than expected

In March, industrial production expanded 1.0% over the previous month in seasonally adjusted terms, contrasting the 1.6% drop observed in February (previously reported: -1.2% quarter-on-quarter) but was well below the 2.3% rise expected by market analysts. On an annual basis, industrial production increased a robust 13.9% in March, which followed the softer 1.5% rise registered in the previous month but undershot market expectations of a 15.5% increase. The strong annual print partially reflects a plunge in output in the same month of last year due to the Tohoku earthquake. According to the Ministry of Economy, Trade and Industry, the monthly rise was broad-based as most of the main sub-components recorded higher readings compared to the previous month, particularly in transportation as well as in information and communication equipment. That said, the government maintained its 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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