In September this year, Japan’s industrial production declined by 1.7 percent compared to the previous month and rose by 9.6 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 September the Japanese iron and steel production index decreased by 6.8 percent year on year, while Japan’s seasonally adjusted iron and steel production index was up by 0.8 percent in the given month compared to August. Meanwhile, in September Japanese producers’ iron and steel shipments moved down by 3.3 percent and iron and steel inventories were up by 2.6 percent, both compared to the previous month.
According to the ministry’s Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to drop by 0.4 percent in October and increase by 0.8 percent in November, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to rise by 1.8 percent in October and decline by 2.1 percent in November, month on month.