Japan’s industrial output rose by 1.7 percent in August
Japan’s industrial output rose by 1.7 percent in August compared with the previous month and also for the third consecutive month. Following the impact of the coronavirus epidemic on production activity, a slight economic recovery was noted thanks to increased demand for new vehicles. The Japanese Ministry of Economy, Trade and Industry said the seasonally adjusted production index of industry and mining was 88.7 in August of this year compared to the base value of 100 in 2015. The index already rose by a surprising 8.7 percent in July. For August, the Ministry of Economics corrected its forecast for industrial output from “upward trend foreseeable” in July to “rising”. Nevertheless, the index is still far from its value of 95.8 in March, which is before the outbreak of the coronavirus.
A spokesman for the ministry said that in view of the re-opening of stores and resumption of production, the index has been slowly but steadily recovering. “However, it will take some time before the pre-Corona level is reached,” the spokesman added. Production in the automotive industry rose 8.9 percent in August over the previous month and was the largest contributor to the index gain. Some automakers recently presented new models that were held back during the pandemic. Steel and iron producers recorded an increase of 6.5 percent, while electronics manufacturers gained 4.6 percent. Only machinery construction experienced a decline that was not further explained.
Takuji Aida, chief economist for Japan at Société Générale Securities Japan, sees an upturn in industrial output, mainly supported by the automotive industry and suppliers through stronger demand in the US. “The services and restaurant sector is recovering rather slowly while government stimulus measures in industry and construction are showing success,” Aida continued. Market access for Japan and related certification can be difficult without an experienced partner. With our wide range of service packages, we offer you the opportunity to enter the Japanese market. MPR International – Japan Certification is represented by its own subsidiaries at five locations and thus completely covers the demand for certification services for the Asian market. Our experienced international team will be happy to answer your questions about Japanese certifications and is available to you at any time.
If you need assistance with product certifications for the Japanese market (JIS certification, PSE/PSC certification) or have any questions, send us an email.