Japan Industry December 2019


Japan: Industrial production rebounds in December

January 31, 2020

Industrial production increased 1.3% in December on a month-on-month and seasonally-adjusted basis, contrasting November’s 1.0% decrease and surpassing the 0.7% increase expected by market analysts.

The categories that drove the month-on-month expansion were production machinery, general-purpose and business orientated machinery, and electronic parts and devices, in that order. On the other hand, production of motor vehicles and other transport equipment declined.

On an annual basis, industrial production dropped 3.0% in December, after decreasing 8.2% in November. The annual average variation in industrial production was unchanged at minus 2.8% in December.

The Ministry of Economy, Trade and Industry’s survey showed that manufacturers are growing optimistic. Manufacturers project industrial production to increase 3.5% in January, up from their December projection of a 2.5% increase, and they see industrial output rising 4.1% in February.

FocusEconomics Consensus Forecast panelists see industrial production expanding 0.3% in 2020, which is down 0.5 percentage points over the previous month’s projection. For 2021 the panel expects industrial production to increase 1.0%.

Author:, Economist

Sample Report

Looking for forecasts related to Industry in Japan? Download a sample report now.


Japan Industry Chart

Japan Industry December 2019

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.

Japan Economic News

  • Japan: Olympics postponed as government eyes urgent fiscal stimulus

    March 25, 2020

    On 24 March, Prime Minister Shinzo Abe announced the postponement of the Tokyo 2020 Olympic Games until the summer of next year at the latest.

    Read more

  • Japan: Private sector activity falls at fastest pace in nearly a decade in March

    March 24, 2020

    The Jibun Bank composite Purchasing Managers’ Index (PMI) slumped to 35.8 in March from 47.0 in February, according to a flash reading, suggesting private sector activity declined from the previous month at the fastest pace in nearly a decade. The services PMI led the decline, falling to 32.7 in March from a revised 46.8 in February (previously reported: 46.7), marking the lowest reading since contemporary records began in September 2007.

    Read more

  • Japan: Headline inflation slows in February

    March 19, 2020

    The core consumer price index, which excludes the price of fresh food, decreased 0.1% month-on-month in seasonally-adjusted terms in February, contrasting the 0.1% increase in January, mainly due to lower prices for transportation and communication. Core inflation slowed to 0.6% in February from 0.8% in January, as expected by market analysts but still well below the Bank of Japan’s inflation target of 2.0%.

    Read more

  • Japan: Exports drop for the 15th month running in February

    March 18, 2020

    Yen-denominated merchandise exports fell 1.0% in February in year-on-year terms, after dropping 2.6% in January, largely due to lower machinery shipments, which make up nearly one-fifth of total merchandise exports.

    Read more

  • Japan: Core machinery orders rebound in January

    March 16, 2020

    Core machinery orders—which cover the private sector, exclude volatile orders and are a leading indicator for capital spending over the coming three- to six-month period—rose in January after slumping in December. Specifically, orders rose 2.9% in January versus the previous month in seasonally-adjusted terms, contrasting market analysts’ expectations of a 1.6% decrease and the revised 11.9% fall in December (previously reported: -12.5% month-on-month). In year-on-year terms, orders fell 0.3% in January after falling 3.5% in December.

    Read more

More news

Search form