Industrial Production Surges 5.2% in April

The Ministry of Economy, Trade and Industry reported last Friday that industrial production in April increased 5.2% from the previous month, this was bigger than the consensus of 3.3%. It was the second straight month of growth. The ministry predicts the industrial production figure is likely to rise 8.8% in May and 2.7% in June and it revised its overall assessment of the category from "remaining stagnant" in March to "signs of recovery can be seen".

This 5.2% month on month rise in April is the highest in 56 years. The sharp recovery also suggests how rapidly the Japanese economy nosedived in the previous months. We are seeing good improvements in car and electronics sectors, while consumer demand remains weak.