Growth
Industrial production (IIP)
METI’s seasonally-adjusted index of how much Japan’s factories and mines produced each month, 2020 = 100.
This chart is being prepared. Industrial production (IIP) draws on Ministry of Economy, Trade and Industry (METI), Indices of Industrial Production, via e-Stat, which requires a free access key that is not yet configured. The explainer and source details below are final; the chart will appear once the data feed is connected.
What this shows
The Indices of Industrial Production (IIP) track the physical volume of output from Japan’s factories and mines, stripped of price changes. This chart shows the headline mining-and-manufacturing production index, published by the Ministry of Economy, Trade and Industry (METI) and seasonally adjusted, with 2020 set to 100.
Because it measures volume rather than value, the index is a fast read on the real industrial economy. METI releases a preliminary figure first and a revised figure about two weeks later; the series here follows the revised values, so a point may differ from the first headline reported.
How to read it: The index is set to 100 in the base year 2020. A value of 105 means production that month was about 5% above the 2020 average; 95 means about 5% below.
Terms on this page
- Industrial production (IIP)
- The Indices of Industrial Production measure the volume of goods produced by mining and manufacturing, rather than their value, so they are not affected by price changes. METI sets the index to 100 in a base year (currently 2020) and rebases it about every five years. It is a timely gauge of the real industrial economy.
- Seasonally adjusted
- Many economic series follow predictable seasonal patterns. Seasonal adjustment removes those recurring swings so that the underlying trend and turning points are easier to see and compare period-to-period.