Industry in Japan
Japan - Industry
Industrial production expands at fastest pace in 15 months in May
Industrial production rose 2.3% on a month-on-month and seasonally-adjusted basis in May, following April’s 0.6% increase. The print overshot the 0.7% increase that market analysts had expected and represented the strongest expansion since March 2018.
The categories that drove the month-on-month increase were motor vehicles, electrical machinery, and information and communication electronics equipment as well as production machinery, in that order. Higher output for these categories was partially offset by decreases in production of inorganic and organic chemicals, transport equipment (excluding vehicles) and chemicals.
On an annual basis, industrial output fell 1.8% in May, following the 1.1% decrease in April. The annual average variation in industrial production fell from a flat reading in April to minus 0.4% in May.
The Survey of Production Forecast showed that manufacturers are slightly more optimistic. They now expect industrial output to have recorded a 1.2% monthly decrease in June, up from the 4.2% contraction forecast in the previous month’s survey. Manufacturers, however, expect a 0.3% increase in July.
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 %)||-0.3||1.9||-1.1||0.0||3.1|
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||-0.14||-4.41 %||Jul 11|
|Exchange Rate||108.5||-0.35 %||Jul 11|
|Stock Market||21,644||0.40 %||Jul 11|
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July 18, 2019
Nominal yen-denominated merchandise exports fell 6.7% year-on-year in June, up from May’s 7.8% decline.
July 18, 2019
The core consumer price index fell 0.1% in month-on-month seasonally-adjusted terms in June, matching May’s reading. Core inflation declined from 0.8% in May to 0.6% in June.
July 8, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, posted the largest contraction in eight months in May, suggesting that trade tensions between China and the United States are weighing on global demand and impacting on capital expenditure.
July 1, 2019
Consumer sentiment declined from 39.4 in May to 38.7 in June.
June 28, 2019
Industrial production rose 2.3% on a month-on-month and seasonally-adjusted basis in May, following April’s 0.6% increase.