Abstract With the decline in exports hitting demand and the explosion of a steel plant caused Toyota's domestic auto production activities to suspend, Japan's industrial output in February hit its biggest decline since 2011. Japan’s Ministry of Economy, Trade and Industry announced on Wednesday that industrial output fell by 6.2% in February;...
As exports fell to hit demand, and a steel mill explosion caused Toyota's domestic auto production activities to suspend, Japan's industrial output in February hit its biggest decline since 2011. The Ministry of Economy, Trade and Industry announced on Wednesday that industrial production fell by 6.2% in February and by 3.7% in January. Economists surveyed by Bloomberg had expected a decline of 5.9% in February.
In the past five months, Japan’s exports have fallen, domestic demand has been weak, and there are indications that the economy has been weak after the previous quarter’s contraction. The above industrial output data is the latest evidence. As pressures on policymakers to increase growth are growing, Japanese Prime Minister Shinzo Abe said on Tuesday that after the parliament passed the record budget for the new fiscal year, the government will focus its spending on the early stage; the Japanese fiscal year begins on April 1. . He boycotted the call for additional fiscal stimulus.
“Exports are still weak as demand in China and other emerging Asian countries slows,†said Takahashi Taiyang, an economist at Nomura Securities in Tokyo, before the data was released. He said that even if the impact of Toyota was removed, the overall industrial output value was still very weak, and the economy was at risk of shrinking again this quarter.
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