— See Separate Table For Details of Individual Forecasts
TOKYO (MNI) – Japanese industrial production appears to have
rebounded by 2.2% in April from the previous month after plunging a
record 15.5% in March, hit by the earthquake disaster, according to the
median forecast of analysts surveyed by Market News International.
The Ministry of Economy, Trade and Industry will release the data
at 0850 JST on Tuesday, May 31 (2350 GMT Monday).
A seasonally adjusted 2.2% rise would the first m/m rise in two
months and the largest gain since +2.4% in December 2010.
The March 11 earthquake has caused supply chain breakdowns for
automobiles and electronics for both domestic and overseas production,
hurting Japan’s exports and consumption.
Manufacturers have been gradually restoring damaged production
facilities and disrupted supply chain networks.
The disaster caused some nuclear power plants to shut down in
northeastern Japan, triggering rolling blackouts in the Tokyo
metropolitan area, but power supply shortages eased in April when
temperatures rose.
METI’s survey of firms’ forecasts released on April 28 showed that
overall production was expected to rise 3.9% m/m in April — revised up
from the 1.3% fall estimated in the previous survey — and would
increase by 2.7% in May (first estimate).
April output will be led by general machinery and passenger cars
while May output will be supported by general machinery as well as
information and communication electronics equipment, the METI said.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
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