In December last year, Japan’s industrial production rose by 0.3 percent compared to the previous month and fell by 2.4 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 December the Japanese iron and steel production index decreased by 11.3 percent year on year, while Japan’s seasonally adjusted iron and steel production index fell by 4.4 percent in the given month compared to November. Meanwhile, in December Japanese producers’ iron and steel shipments declined by 3.1 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 remain unchanged in January and increase by 4.1 percent in February, both on month-on-month basis. Meanwhile, Japanese iron and steel production is expected to advance by 1.1 percent in January and by 1.4 percent in February, month on month.