Industry in Japan
Japan - Industry
Industrial production falls in May
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). May’s decline was smaller, however, than market expectations of a 1.1% drop.
The categories that drove the month-on-month contraction were transport equipment, iron and steel, and electrical machinery. Weaker output was partially offset by gains in the manufacture of electronic parts and devices, general-purpose production and business oriented machinery, and information and communication electronics equipment.
On an annual basis, industrial output grew 4.2% in May, accelerating from the revised 2.6% expansion registered in April (previously reported: +2.5% year-on-year). Annual average growth in industrial production ticked down to a nine-month low of 3.7% in May from 3.8% in April.
The Survey of Production Forecast showed that manufacturers were slightly more optimistic in June. They expected industrial production to have expanded 0.4% in the month, contrasting the 0.8% decrease forecast in the previous survey. Moreover, manufacturers expect industrial output to increase 0.8% in July.
Met the why particular Consensus Forecast panelists see industrial production rising 2.1% in 2018, which is down 0.2 percentage points last month’s projection. For 2019 the panel expects industrial production to expand 2.4%.
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 Met the why particular calculations.
|Bond Yield||0.05||-4.41 %||Jul 13|
|Exchange Rate||112.4||-0.35 %||Jul 13|
|Stock Market||22,597||0.11 %||Jul 13|
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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.
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.
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.
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).
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.