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Japan's industrial sector shows resilience as factory output rebounds

Posted on February 5, 2024 |

In December, Japan's factory output increased by 1.8%, hinting at a potential return to economic growth in the last quarter of the previous year.

The largest increase in industrial production since June was driven by expansions in machinery and chemicals, slightly below the expected 2.5% increase.

Despite positive factory output, retail sales in Japan dropped by 2.9% from November, raising concerns about the strength of domestic demand.

The production growth suggests a potential rebound in the fourth quarter, showcasing the overall resilience of the economy.

Output for the quarter through December rose by 1.4%, in contrast to a 1.2% decline in the summer when Japan's economy contracted.

Contributing factors to the factory output expansion included testing equipment, conveyor belt systems, chemicals, and semiconductor-related gear.

Despite stronger-than-expected exports in December, analysts caution that overseas demand might slow due to anticipated global economic slowdowns.

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