TOKYO– Japan’s industrial production in the fiscal year 2021, grew at a record 5.8 percent, after being hit by the downside effects of the COVID-19 pandemic, the government said in a report today.
According to the Ministry of Economy, Trade and Industry (METI), from Apr, 2021, to Mar, 2022, the index of production at factories and mines stood at 95.5 against the 2015 base of 100.
The rate of increase was the highest since comparable data became available in fiscal 2014, and came on the heels of a 9.6-percent drop the previous year, the ministry said.
Japan’s industrial output has not recovered to pre-pandemic levels, however, the ministry’s data showed, as in fiscal 2019 the index stood at 99.9.
Industrial output here increased 0.3 percent in March, from a month earlier, the ministry also said, in its preliminary report, as the downside effects of the pandemic eased and followed a revised 2.0-percent increase a month earlier.
The ministry kept its basic assessment of industrial output in Japan based on the latest figures in March that it was showing signs of picking up.
The index of industrial shipments increased 0.5 percent to 93.2, in the final month of fiscal 2021, marking the first increase in three months.
Inventories in the same period slipped 0.6 percent to 100.7, however, the ministry also said.
Looking ahead, the ministry said that, based on a survey of manufacturers, it forecasts a 5.8-percent growth in output in Apr and a 0.8 percent drop in May.
Source: NAM NEWS NETWORK