Japan October industrial production (preliminary) +1.5% y/y (expected -0.5%) & +1.4% m/m

Japan October industrial production (preliminary) for October 2025. +1.7% y/yexpected +0.8%, prior +0.2%+1.4% m/mexpected -0.6%, prior +2.6%Japan’s industrial sector delivered a firmer-than-expected performance in October, with factory output rising 1.4% from the previous month, according to government data released on Friday. Despite the upside surprise, manufacturers remain cautious about the near-term outlook. A survey by the Ministry of Economy, Trade and Industry showed firms expect output to fall 1.2% in November, a slightly deeper projected drop than last month’s forecast of –0.9%. Producers also anticipate a further 2.0% decline in December, suggesting the recovery may be brief as global demand remains uneven and supply-chain pressures linger.The data highlight the mixed momentum in Japan’s factories: a stronger-than-expected October print, followed by expectations of renewed contraction heading into year-end.