Mizuho Securities
May 29, 2026
April Industrial Production Update
Market ReportMacro Economic IndicatorsCommoditiesRates Govt BondsInformation TechnologyIndustrials
Japan's April industrial production rose 0.8% MoM, beating forecasts due to strong AI-related demand, though Middle East supply disruptions are capping gains in other sectors.
Key Takeaways
- 1.April industrial production rose 0.8% MoM, exceeding the consensus forecast of a 0.6% decrease.
- 2.AI-related investment is boosting production and exports in electrical machinery and semiconductors.
- 3.Supply constraints stemming from the Middle East situation are hindering the chemical and petroleum sectors.
Table of Contents
- Result and thoughts
- The situation in the Middle East
- Mizuho Securities Forecast
- Short-term
- Medium to Long-term
- Important Disclosure Information
- Analyst Certification
- Disclaimer
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Authors
Yasuhisa Irie
Securities
Indices of Industrial ProductionCrude Oil
Themes
AI Investment tailwindsGeopolitical disruption of energy supplyDivergence between official and private forecasts
Regions
Asia PacificMiddle EastJapan
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