Japan Industrial production April 2022

Japan

Japan: Industrial activity dips in April

June 14, 2022

Industrial production declined 1.4% month-on-month in seasonally-adjusted terms in April (March: +0.3% mom). The figure was largely driven by a deterioration in manufacturing production. In contrast, mining production dropped at a softer rate.

On an annual basis, industrial output declined 4.8% in April, which was notably below March’s 1.7% fall and marking the worst result since January 2021. Accordingly, annual average industrial production growth fell to 4.0% in April (March: +5.7%). This signals a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project industrial production to rise 1.9% in 2022, which is down 0.3 percentage points from last month, and grow 3.0% in 2023.


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Japan Industry April 2022

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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