Tuesday, December 28, 2021
Growth like it hasn’t for years
Japan’s industry is shaking off many worries
The Japanese economy has been hit hard by Corona and delivery bottlenecks. For November, however, the companies report strong numbers. The automotive industry alone is increasing production by almost 50 percent. However, the companies have still not reached the summer level.
Japanese industrial production continued to recover in November after a period of weakness in summer. The production of industrial companies grew in November compared to October with a record increase of 7.2 percent, announced the Ministry of Economy, Trade and Industry (Meti) provisionally in Tokyo. It is the highest increase in decades.
Of the 15 industries observed, 11 reported growth, according to the ministry. The automotive sector in particular increased its emissions significantly in November with an increase of 43 percent, which accounted for two thirds of the total increase.
According to observers, the figures impressively show that the Japanese industry had recovered from supply chain problems and was developing solidly before the appearance of the Omicron variant of the coronavirus.
By September production had fallen for the third month in a row due to the interruptions in the chain stores. There was no countermovement until October. Despite the sharp rise in November, production levels are still weaker than in July, which observers say shows how badly Japanese industrial production has suffered from the supply chain problems of the past few months.