Japan’s industrial production outlook has swung back into positive territory, with the two-month-ahead forecast rising 3.1% in October 2025 on a month-over-month basis, according to data updated on 29 September 2026. This marks a notable turnaround from the previous reading, which showed a sharp 4.2% month-on-month decline in September 2026.
The figures are based on month-over-month comparisons, meaning the latest October 2025 forecast reflects expected changes versus the previous month, while the earlier September 2026 figure compared activity to August 2026. The shift from a 4.2% contraction to a 3.1% increase in the forecast suggests a significant improvement in sentiment for Japan’s industrial sector over the measured periods, hinting at a potential stabilization after earlier weakness in output expectations.
