Industrial Production in Japan declined by 1.2 percent month-over-month in August 2019, after a 1.3 percent rise in the previous month and matching the preliminary estimate. The decline was mainly due to iron, steel and non-ferrous metals (-5 percent vs 0.7 percent in July), production machinery (-2.7 percent vs 0.8 percent), and motor vehicles (-1.1 percent vs 2.1 percent). On an annual basis, industrial output dropped 4.7 percent in August, following a 0.7 percent gain in July. Industrial Production Mom in Japan averaged 0.40 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.
Industrial Production Mom in Japan is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in Japan to stand at 0.50 in 12 months time. In the long-term, the Japan Industrial Production MoM is projected to trend around 0.10 percent in 2020, according to our econometric models.