Japan Industrial Production

Data Industry

Source: Japan METI
Source Link: https://www.meti.go.jp/
Frequency: Monthly
Next Release(s): March 19th, 2026 12:30 AM

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Japan’s industrial production fell -1.5% MoM and -1.6% YoY in August 2025, revised down from the initial estimates of -1.2% MoM and -1.3% YoY.
- Shipment growth was just 0.2% MoM (vs 0.5% MoM initial estimate) and was down -1.3% YoY.
- Inventory growth was unrevised at -1.0% MoM and -2.9% YoY, as inventories were drawing down on the month.
- The inventory ratio was up 2.3% MoM (vs 2.5% MoM initial estimate) and up just 0.4% YoY.
- Production capacity dropped -0.5% MoM, the largest monthly drop so far this year, and was down -1.8% YoY.
- Capacity utilization dropped -2.3% MoM, the largest monthly decline since March, and was mostly flat at an annual increase of 0.3% YoY.
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Japan’s industrial production fell -1.2% MoM (vs -0.8% MoM expected) and -1.3% YoY in August 2025, as both output and inventories declined while the inventory ratio rose.
- Shipments edged up +0.5% MoM but were down -1.1% YoY, indicating only a modest recovery in deliveries.
- Inventories declined -1.0% MoM and -2.9% YoY, pointing to ongoing stock drawdowns across manufacturers.
- The inventory ratio increased +2.5% MoM and +0.6% YoY, suggesting slower inventory clearance relative to shipments.
- Forecasts show production is expected to rise +4.1% MoM in September and +1.2% MoM in October.
- August results highlight fluctuating momentum, but forward-looking surveys suggest near-term stabilization in output.
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Japan's industrial production fell -1.2% MoM and -0.4% YoY in July, revised up from the preliminary estimate of -1.6% MoM, as both shipments and output declined.
- Shipments were down -2.1% MoM and -1.7% YoY, revised up from the preliminary estimate of -2.5% MoM.
- Inventory growth was 0.9% MoM, mostly in line with the 0.8% MoM preliminary estimate, but on an annual basis was down -2.4% YoY.
- Production capacity edged up 0.1% MoM, and the annual decline narrowed to -1.7% YoY, the weakest decline so far this year.
- Capacity utilization dropped -1.1% MoM, the second straight drop of more than one percent, and was down -0.4% YoY.
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Japan Industrial Production

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