Japanese Industrial Production Surges to Record High 7.2% m/m In November

Japan’s preliminary industrial production for November came in at 7.2% m/m much higher than the expected 4.8% m/m and the October reading of 1.8%. Two years ago, deep in the pandemic industrial production was -4.2% m/m. Production in the auto sector benefited from a global parts supply recovery, output of cars and other motor vehicles surged 43.1% for the month

Japan Manufacturing
Japanese Manufacturing

Japan Industrial Production for November 2021 (preliminary) 

Image

Industries that mainly contributed to the increased

1.Motor vehicles, 2.Plastic products, 3.Iron, steel and Non-ferrous metals, in that order

  • Output of cars and other motor vehicles surged 43.1% m/m
  • Plastic products rose 9.5%

Industries that mainly contributed to the decreased

1.Inorganic and organic chemicals, 2.Petroleum and coal products, 3.Chemicals (excl. Inorganic, organic chemicals, and medicine), in that order.

Industrial Production MoM in Japan averaged 0.39 percent from 1953 until 2019, reaching an all-time high of 6.80 percent in May of 2011 and a record low of -16.50 percent in March of 2011.

Inventories

Industries that mainly contributed to the increased

1.Motor vehicles, 2.Iron, steel and Non-ferrous metals, 3.Electronic parts and devices, in that order.

Industries that mainly contributed to the decreased

1.Electrical machinery, and Information and communication electronics equipment, 2.General-purpose and business oriented machinery, 3.Chemicals (excl. Inorganic, organic chemicals, and medicine), in that order.

Indices of Industrial Production Forecast

METI Outlooks:

Manufacturers expect

For one month ahead:

  • 1.6% (prior 9%) m/m

For 2 months ahead:

  • 5% (prior 2.1%) m/m

Japan’s METI comment:

Industries that mainly contributed to the increased in December

1.Transport equipment, 2. Fabricated metals, 3. Others, in that order.

Industries that mainly contributed to the increased in January

1.Production machinery, 2.Electrical machinery, and Information and communication electronics equipment, 3.Electronic parts and devices, in that order.

Source: Ministry of Economy Trade & Industry (METI)

From The TradersCommunity News Desk

Leave a Reply

Your email address will not be published. Required fields are marked *