In January, industrial production grew for a third month in a row, shored up by improving overseas demand. Industrial production grew a seasonally adjusted 1.3% over the previous month (preliminary release: +2.4% month-on-month). The reading came in well below the 4.0% gain expected by the market and also represented a decline compared to the 3.3% reported in December. The monthly increase was mostly driven by a significant rise in the production of transportation equipment (+7.0% mom), in particular of motorcycles and industrial vehicles and general machinery (+3.9% mom). On the other hand, the industrial production growth was dragged lower by declining output of electronic equipment and chemicals. In annual terms, industrial production growth decelerated from a 4.9% increase in December to a 3.5% expansion in January. As a result of the lower reading, annual average growth continued to slip, down from 15.9% in December to 14.7% in January, mainly reflecting the strong growth in the previous year (January 2010: +18.9% year-on-year). According to a survey published before the earthquake, manufacturers expect industrial output to continue to rise, expanding 0.1% in February and 1.9% in March.
Industrial production slows in January, but growth remains robust
February 28, 2011
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Japan Economic News
October 12, 2016
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.
October 4, 2016
Consumer sentiment rose from August’s 42.0 to 43.0 in September.
October 3, 2016
According to the Bank of Japan’s quarterly TANKAN business survey, sentiment among large manufacturers was stable at 6 in Q3.
September 30, 2016
In August, the core consumer price index was flat compared to the previous month, which was above the 0.2% decline in July.
September 30, 2016
In August, industrial production expanded 1.5% over the previous month in seasonally-adjusted terms, which contrasted July’s 0.4% decrease (previously reported: 0.0% month-on-month).