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.