In July this year, Japan’s industrial production fell by 2.0 percent compared to the previous month and by 2.5 percent compared to the same month in 2022, 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 July the Japanese iron and steel production index increased by 3.1 percent year on year, while Japan’s seasonally adjusted iron and steel production index grew by 2.0 percent in the given month compared to June. Meanwhile, in July Japanese producers’ iron and steel shipments moved up by 3.7 percent and iron and steel inventories fell by 0.8 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 2.6 percent in August and increase by 2.4 percent in September, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to decrease by 3.8 percent in August and increase by 0.6 percent in September, month on month.