In May this year, Japan's industrial production decreased 3.3 percent from the previous month, while output rose by 6.8 percent from May last year, according to the preliminary indices of the Industrial Production report published by Japan's Ministry of Economy, Trade and Industry (METI).
On the other hand, in May the Japanese iron and steel production index rose by 2.8 percent year on year, while Japan's seasonally adjusted iron and steel production index decreased by 3.2 percent in May compared to April. Meanwhile, in May Japanese producers' iron and steel shipments decreased by 3.6 percent and iron and steel inventories were up by 2.3 percent, both compared to the previous month.
According to the ministry's Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to increase by 2.8 percent in June and to fall by 0.1 percent in July, both month on month. Meanwhile, Japanese iron and steel production is expected to fall 2.7 percent in June and to grow by 1.3 percent in July, month on month.