Japan Industry


Japan: Industrial production records sharpest drop in eight months in February

March 31, 2014

In February, industrial production contracted 2.3% over the previous month in seasonally-adjusted terms, which contrasted the 3.8% increase recorded in January (previously reported: +4.0% month-on-month). The print represented the sharpest decline since June 2013 and contrasted the 0.3% increase that markets had expected. According to the Ministry of Economy, Trade and Industry, the sectors with the greatest contribution to the monthly fall were transport equipment, general-purpose, production and business oriented machinery, as well as information and communication electronics equipment. Despite the monthly drop, the government maintained its general assessment, stating that industrial production, “shows an upward movement,” in Japan. On an annual basis, industrial output expanded 6.9% in February. The increase followed the 10.3% rise observed in January, which had marked the largest annual gain since April 2012. Annual average growth in industrial production rose from 0.4% in January to 1.8% in February, marking the highest level in 17 months. Meanwhile, the Survey of Production Forecast showed that manufacturers are becoming more optimistic. They now expect industrial output to have recorded a month-on-month 0.9% increase in March, which contrasted the 3.2% drop that was forecast in the previous month's survey. Conversely, manufacturers expect a 0.6% decline in April. FocusEconomics Consensus Forecast panelists see industrial production expanding 4.8% in 2014, which is up 0.1 percentage points over the previous month's projection. In 2015, the panel expects industrial production to rise 3.2%.


Sample Report

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


Japan Industry Chart

Japan Industry February 2014

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: Machinery orders decline in May

    July 11, 2018

    Although core machinery orders—a leading indicator of capital spending over a three- to six-month period—contracted in May, the fall was weaker-than-expected, suggesting that capital expenditure will gain steam further down the road.

    Read more

  • Japan: Business confidence weakens in Q2

    July 2, 2018

    According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers fell in the second quarter of 2018, suggesting economic momentum has yet to gain traction following a weak first quarter.

    Read more

  • Japan: Consumer confidence declines marginally in June

    June 29, 2018

    Consumer sentiment inched down to 43.7 in June from 43.8 in May, coming in just below market expectations of a stable print.

    Read more

  • Japan: Industrial production falls in May

    June 29, 2018

    Industrial production contracted 0.2% on a month-on-month and seasonally-adjusted basis in May, contrasting April’s revised 0.5% increase (previously reported: +0.3% month-on-month).

    Read more

  • Japan: Core inflation stable in May

    June 22, 2018

    The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in May, reversing April’s 0.1% fall. Core inflation was steady at 0.7% in May, unchanged from April and in line with market expectations.

    Read more

More news

Search form