In December last year, Japan’s industrial production decreased by 1.6 percent compared to the previous month and fell by 3.2 percent compared to the same month in 2019, 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 December the Japanese iron and steel production index decreased by two percent year on year, while Japan’s seasonally adjusted iron and steel production index was up by 0.9 percent in December compared to November. Meanwhile, in December Japanese producers’ iron and steel shipments increased by 1.1 percent and iron and steel inventories were up by 1.8 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 8.9 percent in January and to fall by 0.3 percent in February, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to increase by 2.3 percent in January and to rise by 3.2 percent in February, month on month.