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Industrial Production
Measures all industrial production.

Main Indicator: Industrial Production m/m

Most Recent Release

May
16th, 2008
Actual Forecast Previous Revised Form
-3.4% -3.1% -3.1% N/A

Final Version for March
Provided by: Ministry of Economy, Trade and Industry

Table of Past Data

12/271/161/292/132/273/133/304/174/295/16
Actual-1.6%-1.6%1.4%1.4%-2.0%-2.2%-1.2%1.6%-3.1%-3.4%
Forecast-1.6%-1.6%2.0%1.4%-0.8%-2.0%-2.0%-1.2%-0.7%-3.1%
Previous1.7%-1.6%-1.6%1.4%1.4%-2.0%-2.2%-0.5%1.6%-3.1%
Revised FromN/AN/AN/AN/AN/AN/AN/A-1.2%N/AN/A

Past Releases

April
29th, 2008
Actual Forecast Previous Revised Form
-3.1% -0.7% 1.6% N/A

Preliminary version for March
Provided by Ministry of Economy, Trade and Industry

Industrial Production y/y: -0.4%, forecast 2.0%, pr. 5.1%

Production at Japan's factories tumbled in March, falling 3.1%, the largest decrease in nearly 5 years. The decline was much steeper than anticipated by economists. With the US in a sharp slowdown, Japanese exports are feeling the pressure, despite demand from other markets. However as the effects of the credit crunch spread to other economies, demand may falter there as well. Shipments to China, for instance, have cooled. Declines were led by automobile production, as Toyota and Honda cut domestic production. Those reduction can have ramifications for other industries, and on employment. 

April
17th, 2008
Actual Forecast Previous Revised Form
1.6% -1.2% -0.5% -1.2%

Final Version for February
Provided by: Ministry of Economy, Trade and Industry

Industrial Production y/y: 5.1%, pr. 2.9%

Industrial production increased 1.6% in Feb on a seasonally adjusted basis. It reversed last month's losses of 0.5% which were revised up as a result of the government switching the base year for calculations to 2005 from 2000. The news was a pleasant surprise, but with the global economy feeling strained and raw materials prices surging, Japanese production may be contained.  

March
30th, 2008
Actual Forecast Previous Revised Form
-1.2% -2.0% -2.2% N/A

Preliminary Version for February
Provided by: Ministry of Economy, Trade and Industry

Industrial Production y/y: 4.2%, forecast 2.9%;  pr. 2.2%

Japan's industrial production fell for a second straight month, declining 1.2%. The data did beat expectations, and the year-over-year figure increased to 4.2%, also surprising on the upside. However, the negative monthly measure implies that companies are scaling back their production in anticipation that orders will fall as the US enters recession-like conditions.

 

March
13th, 2008
Actual Forecast Previous Revised Form
-2.2% -2.0% -2.0% N/A

Final Version for January
Provided by Ministry of Economy, Trade and Industry

Industrial Production y/y:2.2%;  pr. 2.5%

February
27th, 2008
Actual Forecast Previous Revised Form
-2.0% -0.8% 1.4% N/A
Preliminary Release for January

Indusrial Production y/y: 2.5%, forecast: 3.7%, pr. 0.8%

Provided by Ministry of Economy, Trade and Industry

Japanese industrial ouput scaled back in January. Production, Shipments and Inventory Ratio decreased. The Survey of Production Forecast in Manufacturing projects another decrease in February, but a rebound in March.

Industrial production was dragged down by electrioni parts and devices, transport equipments, and general machinery. Shipments declined for the first time in two months and may be an result of the US slowdown.

February
13th, 2008
Actual Forecast Previous Revised Form
1.4% 1.4% 1.4% N/A
Final Release for December
Provided by Ministry of Economy, Trade and Industry - Titled "Report on Indices of Industrial Production"
January
29th, 2008
Actual Forecast Previous Revised Form
1.4% 2.0% -1.6% N/A

Preliminary Release for December
Provided by Ministry of Economy, Trade and Industry - Titled "Report on Indices of Industrial Production"

Industrial production may have rebounded in December after 2 months of declines. According to the METI release:

"Industries that mainly contributed to the increase are as follows: 1. Electronic parts and devices , 2.General machinery, 3.Plastic products, in that order.

Commodities that mainly contributed to the increase are as follows: 1. Large passenger cars, 2. Flat-panel display manufacturing equipment, 3. Lithium ion storage batteries, in that order."

A survey for forecasts of output in the upcoming months has levels decreasing 0.4% in January and down 2.2% again in February. When compared with the same survey given in December, these planned levels have decreased.

January
16th, 2008
Actual Forecast Previous Revised Form
-1.6% -1.6% -1.6% N/A
Final Release for November
Release from Ministry of Economy, Trade and Industry

Final revisions did not change the initial estimate of industrial output.
December
27th, 2007
Actual Forecast Previous Revised Form
-1.6% -1.6% 1.7% N/A
Preliminary Release for November.

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