Japan's industrial output drops to 7-year low in 2020 amid pandemic
Source: Xinhua | 2021-01-30
Japan's industrial output in 2020 dropped to the lowest level since comparable data became available seven years ago, owing to the downside effects of the coronavirus pandemic on production in transport and machinery sectors, the government said in a report on Friday.
According to the Ministry of Economy, Trade and Industry, production dropped 10.1 percent in 2020, with the seasonally adjusted index of output at factories and mines standing at 90.9, against the 2015 base of 100.
The reading was the lowest since January 2013 when comparable data became available.
For December alone, the index of output at factories and mines lost 1.6 percent to 93.2, with the latest reading coming on the heels of a downwardly revised 0.5 percent drop logged in November, the ministry's data showed.
The index of industrial shipments, meanwhile, retreated 1.6 percent to 92.3, while that of inventories fell 1.1 percent to 95.3, the ministry also said.
Looking ahead, the ministry said that based on manufacturers surveyed, it expects factory output to jump 8.9 percent in January before shedding 0.3 percent in February.
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