Japan Industrial production July 2022


Japan: Industrial output growth ebbs in July

September 14, 2022

Industrial output grew 0.8% in month-on-month seasonally-adjusted terms in July, which was a deterioration from June's 9.2% increase. July's notable slowdown was largely driven by a deterioration in manufacturing output growth. In addition, mining production fell markedly.

On an annual basis, industrial output fell at a softer pace of 2.0% in July (June: -2.8% yoy). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.6% in July, contrasting June's plus 0.4%.

FocusEconomics Consensus Forecast panelists project industrial production to contract 0.3% in 2022, which is down 0.8 percentage points from last month, and grow 2.6% in 2023.


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Japan Industrial production Chart

Japan Industry July 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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