Japan: June industrial production up on an annual basis for the fourth consecutive month. The outlook on July and August

In June, the figure for industrial production in Japan rose by 6.5% on a monthly basis, doing better than the + 5% expected, and in marked recovery compared to the decline -6.5% in May. This is what emerges from the preliminary reading of the indicator.

On an annual basis, the increase was + 22.6%, even better than the previous + 21.1%, up for the fourth consecutive month (due to the base effect linked to the Covid-19 pandemic).

For the month of July, however, Japanese manufacturing companies expect a drop in production equal to -1.1% on a monthly basis; for the month of August, on the other hand, the estimates are of a recovery, again on a monthly basis, equal to + 1.7%.