Global| Dec 30 2008Japan Manufacturing Collapses
Summary
Japan ’s Industrial output fell sharply in November. The 8.1% drop has driven the three-month growth rate to -24% at an annual rate. Declines sweep across the various categories. Transportation is down especially sharply given the [...]
Japan ’s Industrial output fell sharply in November. The 8.1% drop has driven the three-month growth rate to -24% at an annual rate. Declines sweep across the various categories. Transportation is down especially sharply given the trouble in the worldwide auto market.
In the quarter–to-date IP is falling at a 31% annual rate; transportation at a 52% annual rate.
| Japan Industrial Production Trends | ||||||||
|---|---|---|---|---|---|---|---|---|
| m/m % | Saar % | Yr/Yr | Qtr-2-Date | |||||
| seas adjusted | Nov-08 | Oct-08 | Sep-08 | 3-mo | 6-mo | 12-mo | Yr-Ago | % AR |
| Mining & Manufacturing | -8.1% | -3.1% | 1.1% | -34.5% | -26.0% | -13.3% | 2.0% | -31.3% |
| Total Industry | -7.5% | -3.4% | 1.1% | -33.4% | -25.3% | -12.8% | 1.9% | -31.2% |
| MFG | -8.1% | -3.2% | 1.1% | -34.5% | -26.0% | -13.3% | 2.0% | -31.4% |
| Textiles | -0.9% | -0.2% | -0.9% | -7.7% | -12.7% | -9.8% | -6.9% | -6.3% |
| T-port | -14.2% | -7.4% | 4.8% | -51.9% | -45.0% | -21.9% | 5.4% | -52.4% |
| Product Group | ||||||||
| Consumer Goods | -5.3% | -2.2% | -0.2% | -27.0% | -19.5% | -7.9% | 0.5% | -25.7% |
| Intermediate Goods | -8.1% | -4.7% | 0.7% | -39.3% | -26.8% | -14.7% | 4.2% | -35.7% |
| Investment Goods | -9.7% | -2.6% | 4.6% | -28.7% | -29.2% | -15.7% | -1.8% | -26.8% |
| Mining | 7.6% | -7.5% | -4.4% | -18.1% | 5.2% | -4.0% | 6.5% | -27.0% |
| Electricity & Gas | 0.1% | 1.4% | 2.3% | 16.0% | -3.2% | -1.3% | 2.6% | 1.0% |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
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