Industrial production in June 2025 showed a seasonally adjusted index of 102.9, up 1.7% from the previous month, marking the first increase in three months. After declining for two consecutive months in April and May, June saw overall improvement due to increases in the transportation equipment industry (excluding automotive), electronic components and devices industry, and others.
By industry, of the 15 industries, 8 showed month-on-month increases while 7 showed decreases. The transportation equipment industry (excluding automotive), which had the largest upward contribution, saw aircraft engine parts and aircraft body parts as main factors for the increase. The electronic components and devices industry, which had the second-largest upward contribution, saw MOS-type ICs (memory) and fixed capacitors as main factors, while the general-purpose and business machinery industry saw conveyors and transport cranes as main upward factors.
Meanwhile, shipments declined by 0.8% month-on-month, the first decrease in three months, with the automotive industry and electrical and information communication machinery industry as main downward factors. Inventories decreased by 0.4% month-on-month for the third consecutive month, while the inventory ratio increased by 0.8% month-on-month for the first time in three months.
In the inventory cycle diagram, the second quarter of 2025 (preliminary) again entered the "unintended inventory reduction phase," and the effects of active inventory reduction in some industries may be becoming apparent. Given these circumstances, the basic assessment for industrial production in June was maintained at "fluctuating sideways."