The Industrial Production Index m/m measures the monthly output of manufacturing industry, while the forecast value shows the expected production level after two months. This forecast is prepared based on current production data for all sectors of Japan, including industry, mining and energy.
Ministry of Economy, Trade and Industry conducts a regular survey of production, during which it publishes 1-2 month ahead production forecast. Although this sector of the economy contributes to a small part of national GDP, industrial production is sensitive to rates and consumer demand. Thus, a 2-month ahead forecast of industrial production allows predicting future changes in the GDP.
The purpose of the monthly production forecast is to prepare basis for the calculation of planned production volumes for the current and the next months. This indicator can reflect changing business conditions and provide an idea of where the economy will move in the near future.
Since production demonstrates the economy state, a positive forecast is considered a positive factor for the entire economy and for the Japanese yen quotes. Conversely, a negative forecast can mean a slowdown in the national economy development and have an adverse effect on the national currency.
The chart of the entire available history of the "Japan Industrial Production Forecast 2-month Ahead m/m" macroeconomic indicator.
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