In January this year, Japan’s industrial production decreased by 0.8 percent compared to the previous month and fell by 0.5 percent compared to the same month in 2021, 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 January the Japanese iron and steel production index decreased by 1.8 percent year on year, while Japan’s seasonally adjusted iron and steel production index was down by 3.8 percent in January compared to December. Meanwhile, in January Japanese producers’ iron and steel shipments decreased by 3.1 percent and iron and steel inventories were up by 0.1 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 5.7 percent in February and to rise by 0.1 percent in March, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to increase by 2.6 percent in February and to fall by 3.6 percent in March, month on month.