Industry in Japan

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Japan - Industry

Industrial production contracts again in December

Industrial production declined 0.1% on a month-on-month and seasonally-adjusted basis in December, following November’s 1.0% contraction. Nevertheless, the print was better than the 0.4% drop that market analysts had expected.

The categories that drove the month-on-month fall were production machinery, chemicals (excluding inorganic, organic chemicals, and medicine) as well as electronic parts and devices. Lower output for these categories was partially offset by increases in production of general-purpose and business-oriented machinery, motor vehicles as well as electrical machinery, and information and communication electronics equipment.

On an annual basis, industrial output declined 1.9% in December, contrasting the 1.5% increase in November. Annual average growth in industrial production fell from November’s 1.5% to 1.0% in December.

The Survey of Production Forecast showed that manufacturers are becoming slightly more optimistic. They now expect industrial output to have recorded a 0.1% monthly decrease in January, up from the 0.8% fall forecast in the previous month’s survey. Manufacturers expect a 2.6% expansion in February.

Japan Industrial Production Forecast

FocusEconomics Consensus Forecast panelists see industrial production rising 1.6% in 2019, which is down 0.1 percentage points over the previous month’s projection. For 2020 the panel expects industrial production to expand 0.9%.

Japan - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-0.8  2.1  -1.2  -0.2  4.4  

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Japan Industry Chart

Japan Industry
Note: Annual variation of industrial production in %.
Source: Ministry of Economy, Trade and Industry and FocusEconomics calculations.

Japan Facts

Bond Yield-0.01-4.41 %Feb 14
Exchange Rate110.5-0.35 %Feb 14
Stock Market21,1400.40 %Feb 14

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