Despite COVID-19 Spread... Japan's Light Industry Production Improves for 2 Consecutive Months

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Japan's industrial production index improved for two consecutive months despite the spread of the novel coronavirus infection (COVID-19), according to reports by Nihon Keizai Shimbun and others on the 31st.

According to the reports, Japan's Ministry of Economy, Trade and Industry announced that the preliminary industrial production index for July rose 8.0 points from the previous month to 86.6. The industrial production index, which had been declining from February to May due to the impact of COVID-19 spread, increased for the second consecutive month following June.

By industry, 12 out of 15 sectors showed an upward trend. The automobile sector rose 38.5% month-on-month, supported by the recovery of domestic and overseas demand, while other industries including rubber products increased by 9.0%, and steel and non-ferrous metals rose by 9.7%. The Ministry of Economy, Trade and Industry explained that the increase in production of automobile parts such as tires contributed to the recovery of production across a wide range of industries, and it is expected that the recovery trend will continue for the time being.

The Japanese government declared a "state of emergency" on April 7th in seven metropolitan areas including Tokyo, where many COVID-19 cases were reported, to suppress socio-economic activities, then expanded it nationwide. After the first wave subsided, the government fully lifted the emergency on May 25th. Although a second wave of COVID-19 has recently occurred, the Japanese government is pursuing policies to maintain socio-economic activities while controlling the spread of infection.

This content was produced with the assistance of AI translation services.