Japan IP Sharply High in the Month of October

November 29, 2007

By Robert Brusca

· Japan continued to see its textile business eaten alive by international competition in October. Still, manufacturing output rose by 1.6% month-to-month and stands higher year/year by 3.5% after rising 6.6% the year before.

· Consumer goods and intermediate goods continue to show solid gains. Investment goods output is off by 1.7% year/year and is off at a 4.3% annual rate over three months.

· On the whole, Japan’s industrial sector is doing well, living off exports while domestic demand is still trying to find its way.

Japan Industrial Production Trends
 

m/m %

Saar %

Yr/Yr
 

Oct-07

Sep-07

Aug-07

3-mo

6-mo

12-mo

Yr-Ago

Mining & Manufacturing

1.6%

-1.4%

3.5%

15.6%

8.9%

3.5%

6.6%

Total Industry

1.4%

-1.3%

3.8%

16.5%

7.6%

3.3%

6.3%

Manufacturing

1.6%

-1.4%

3.5%

15.6%

8.9%

3.5%

6.6%

Textiles

-0.3%

-1.0%

-1.0%

-8.8%

-4.2%

-5.5%

-2.3%

Transport

6.7%

-6.3%

19.1%

101.5%

32.3%

11.5%

14.2%

Product Group

Consumer Goods

1.6%

-2.2%

8.8%

36.5%

5.7%

2.9%

5.7%

Intermediate Goods

1.2%

0.0%

2.8%

17.3%

11.9%

5.9%

7.1%

Investment Goods

1.9%

-5.3%

2.5%

-4.3%

1.6%

-1.7%

6.3%

Mining

-2.9%

2.9%

-0.6%

-2.9%

6.7%

4.7%

6.4%

Electricity & Gas

-3.0%

1.8%

8.7%

32.7%

-0.3%

2.5%

2.9%

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