In May this year, Japan's industrial production decreased by 2.3 percent from the previous month, showing a decrease for the first time in three months, while output fell by 0.1 percent from May last year, 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 May the Japanese iron and steel production index fell by 1.2 percent year on year, while Japan's seasonally adjusted iron and steel production index decreased by 0.4 percent in May compared to April. Meanwhile, in May Japanese producers' iron and steel shipments increased by 1.1 percent and iron and steel inventories were up by 2.3 percent, both compared to the previous month.
According to the ministry's Survey of Production Forecast in Manufacturing, Japanese industrial production is expected to increase by 1.7 percent in June and to rise by 1.3 percent in July his year, both month on month. Meanwhile, Japanese iron and steel production is expected to fall 1.8 percent in June and to grow by 3.7 percent in July this year, month on month.