Japan Industrial production April 2020


Japan: Industrial activity drops at sharpest rate since March 2011 in April

May 29, 2020

Industrial output dropped 9.1% month-on-month on a seasonally-adjusted basis in April (March: -3.7% yoy), in part due to a large fall in motor vehicle output. April's reading marked the sharpest contraction since March 2011. On an annual basis, industrial production fell 14.4% in April, following the 5.2% decrease in March.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.8% in April, down from March's minus 3.7%.

FocusEconomics panelists see industrial production decreasing 8.4% in 2020, which is down 7.3 percentage points over the previous month’s projection. In 2021, the panel sees industrial production recovering 1.9%.

Author:, Economist

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Japan Industrial production Chart

Japan Industry April 20 20

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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