COVID-19: Japan's mining and manufacturing production expanded confidently on a monthly basis
Japan's industrial production in the manufacturing and mining sectors expanded again in June on a monthly basis, after posting a decrease in the previous month.
The industrial production index (IPI) grew by 6.2% m/m compared to a drop of 6.5% m/m. Ever since the COVID-19 outbreak in the spring of 2020, the m/m change has been swinging between positive and negative territory. The annual growth in June, on the other hand, is 22.6% y/y, which, however, can still be explained by the low base effect.
Further data and analysis on Japan’s economy are available on the CEIC Japan Economy in a Snapshot – Q2 2021 report.