Industry in Japan
Japan - Industry
Industrial production rebounds in February
Industrial production expanded for the first time in four months, increasing 1.4% on a month-on-month and seasonally-adjusted basis in February. The print contrasted January’s 3.4% contraction and overshot the 1.0% rise that market analysts had expected.
The categories that drove the month-on-month increase were motor vehicles, production machinery and electrical machinery, and information and communication electronics equipment, in that order. Higher output for these categories was partially offset by decreases in production of transport equipment (excluding motor vehicles), inorganic and organic chemicals and electronic parts and devices.
On an annual basis, industrial output fell 1.0% in February, contrasting January’s 0.3% increase. Annual average growth in industrial production fell from January’s 0.9% to 0.8% in February.
The Survey of Production Forecast showed that manufacturers are becoming more optimistic. They now expect industrial output to have recorded a 1.3% monthly increase in March, contrasting the 1.6% decrease forecast in the previous month’s survey. Manufacturers expect a 1.1% increase in April.
FocusEconomics Consensus Forecast panelists see industrial production rising 0.7% in 2019, which is down 0.4 percentage points over the previous month’s projection. For 2020 the panel expects industrial production to expand 1.0%.
Japan - Industry Data
|Industrial Production (annual variation in %)||-0.8||2.1||-1.2||-0.2||4.4|
5 years of economic forecasts for more than 30 economic indicators.
Japan Industry Chart
Source: Ministry of Economy, Trade and Industry and FocusEconomics calculations.
|Bond Yield||0.01||-4.41 %||Jan 30|
|Exchange Rate||109.0||-0.35 %||Jan 30|
|Stock Market||20,557||0.40 %||Jan 30|
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April 17, 2019
Nominal yen-denominated merchandise exports fell 2.4% year-on-year in March, following the 1.2% decrease in February.
April 10, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, posted the first increase in fourth months in February but missed market expectations, suggesting that capex will likely remain subdued in the months ahead.
April 8, 2019
Consumer sentiment declined from 41.5 in February to 40.5 in March, marking the lowest reading since February 2016.
March 29, 2019
Industrial production expanded for the first time in four months, increasing 1.4% on a month-on-month and seasonally-adjusted basis in February.
March 22, 2019
The Nikkei flash manufacturing Purchasing Managers’ Index (PMI) was unchanged at February’s 48.9% (previously reported: 48.5) in March, the lowest level since July 2016.