Industrial production in Japan rose by 2 percent month-over-month in May 2019, below a preliminary figure of 2.3 percent and after a 0.6 percent gain in April, final data showed. It was the steepest monthly rise in factory output since October last year, as production rebounded for general-purpose machinery (2.1% vs -8.2% in April); electronic parts and devices (6.4% vs -7.6%); electrical machinery (4.1% vs -1.7%); and chemicals (0.5% vs -2.3%). Also, output advanced further for non-ferrous metals (4.4% vs flat reading). Meantime, output growth eased for fabricated metals (1.2% vs 3%); production machinery (4.4% vs 5.2%); business oriented machinery (0.4% vs 1%); information and communication electronics (4.6% vs 10.7%); transport equipment (3.6% vs 4.1%); motor vehicles (5.2% vs 3.1%); and petrochemicals (0.5% vs 0.1%). On a yearly basis, industrial production fell 2.1 percent in May, after a 1.1 percent fall in April. 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 0.10 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.