In November last year, Japan’s industrial production rose by 0.2 percent compared to the previous month and fell by 0.9 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 November the Japanese iron and steel production index decreased by 7.7 percent year on year, while Japan’s seasonally adjusted iron and steel production index grew by 1.4 percent in the given month compared to October. Meanwhile, in November Japanese producers’ iron and steel shipments declined by 0.3 percent and iron and steel inventories dropped by 0.7 percent, both compared to the previous month.
According to the ministry’s Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to rise by 2.8 percent in December and decrease by 0.6 percent in January, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to advance by 0.5 percent in December and drop by 3.5 percent in January, month on month.