Japan’s industrial production expands 2.5% in April
Tokyo, May 31 (EFE).- Japan’s industrial production in April rose 2.5 percent compared to March, according to the data released Monday by the government.
The indicator increased by 15.4 percent with respect to the fourth month of 2020, according to the Japanese Ministry of Economy, Trade and Industry, which noted that “industrial production is picking up.”
April’s increase follows a 1.7 percent month-on-month rise in the indicator in March, revised down from the preliminary figure of 2.2 percent.
The industries that contributed the most to the growth of industrial production in April were general-purpose and business oriented machinery, electrical machinery and communication electronics equipment, as well as production machinery.
On the other hand, the industries that had the most negative impact included motor vehicles, transport equipment and plastic products.
According to data from a survey conducted by the ministry with domestic companies, Japan’s industrial production is expected to decline 1.7 percent in May (compared to the 4.3 percent decrease estimated in the previous month) and expand by 5 percent in June.
Industrial production data, which measures the pace of Japanese factories, is considered key in anticipating the progress of the country’s economy as it is highly dependent on the manufacturing sector. EFE