Japan Industry August 2018


Japan: Industrial production rebounds in August

September 28, 2018

Industrial production expanded 0.7% on a month-on-month and seasonally-adjusted basis in August, contrasting July’s 0.2% decrease. The print represented the largest expansion in five months but was shy of the increase of 1.4% that market analysts had expected.

The categories that drove the month-on-month expansion were transport equipment, general-purpose, production and business oriented machinery and plastic products. Stronger output for these categories was partially offset by declines in electronic parts and devices, chemicals (excluding drugs), and fabricated metals.

On an annual basis, industrial output rose 0.6% in August, following the 2.2% increase registered in July. Annual average growth in industrial production ticked down from 3.0% in July to an over one-year low of 2.6% in August.

FocusEconomics Consensus Forecast panelists see industrial production rising 1.9% in 2018, which is up 0.1 percentage points last month’s projection. For 2019 the panel expects industrial production to expand 2.2%.


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Japan Industry Chart

Japan Industry August 2018 1

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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