In January this year, Japan’s industrial production fell by 5.3 percent compared to the previous month and by 3.1 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 January the Japanese iron and steel production index decreased by 9.2 percent year on year, while Japan’s seasonally adjusted iron and steel production index fell by 2.4 percent in the given month compared to December. Meanwhile, in January Japanese producers’ iron and steel shipments declined by 2.6 percent and iron and steel inventories dropped by 2.1 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 eight percent in February and by 0.7 percent in March, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to advance by 1.3 percent in February and drop by 1.1 percent in March, month on month.
