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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Capacity Utilization climbed to 0.1% in May 2026
FMPMonthlyReleased July 2026
Japan Capacity Utilization climbed to 0.1% in May 2026, released July 2026, up 0.9% from April's -0.8% reading. The reading missed the 0.9% consensus by 0.8%. Capacity Utilization has now risen for 3 consecutive months. Over the past 3 months, Capacity Utilization averaged -1.0%, vs -0.3% in the prior 3-month window. The reading is in the 58th percentile of the trailing 24-month range.
Latest Release
0.1
Actual
0.9
Consensus
-0.8
Previous
Median Absolute Error
±2.59 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: -0.17
Actual: 0.1
Error: -0.27
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/JPY | ▲ Direct | +0.46 | FOREX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
| GBP/JPY | ▲ Direct | +0.27 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Capacity Utilization (Japan) was reported at 0.1% in July 2026. This missed the market consensus of 0.9% by 0.8%. The reading rose from the previous value of -0.8%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged -0.22%, ranging from -5.3% to 3.3% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged -0.63%, down from the prior three at -0.37%. Volatility over the past year (σ 2.46%) is comparable than the prior year (σ 2.24%).
THE MODEL'S TAKE
Historically, this indicator is positively correlated with USD/JPY (Bullish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 2.59%.
WHAT TO WATCH NEXT
The next release is scheduled for August 17, 2026. Same-country events in the next 14 days include CFTC JPY speculative net positions (Jul 31) and BoJ Monetary Policy Meeting Minutes (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Capacity Utilization - JP
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About Capacity Utilization — Japan
DEFINITION
Capacity Utilization is a financial indicator that measures the extent to which a company or industry is utilizing its maximum production capacity. It is calculated by dividing the actual output by the potential output and is expressed as a percentage. This indicator provides valuable insights into the efficiency and productivity of a business, as well as its potential for growth and expansion. A high capacity utilization rate indicates that a company is operating at optimal levels, while a low rate may suggest room for improvement and potential cost savings. Overall, capacity utilization is a key metric for assessing the overall health and performance of a company or industry.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 0.1 %, consensus 0.9 %. Prior reading (Apr 2026): -0.8 %. Before that (Mar 2026): -1.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/JPY (Bullish USD, r=0.46) — a useful reference for forex-focused traders.
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Economic Calendar - JP Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 05:00 | JP | Consumer Confidence | 34.9 | 33.8 | 34.2 | 34.55 | High |
| 23:30 | JP | Unemployment Rate | 2.5 | 2.5 | 2.5 | 2.50 | Medium |
| 23:30 | JP | Core CPI YoY | 1.9 | 1.6 | 1.7 | 1.80 | Low |
| 23:30 | JP | Jobs/applications ratio | 1.18 | 1.17 | 1.17 | 1.17 | Low |
| 23:30 | JP | CPI YoY | 2 | 1.9 | 2 | 2.00 | Low |
| 23:50 | JP | Retail Sales YoY | 0.5 | 5 | 3.1 | 1.80 | Medium |
| 23:50 | JP | Industrial Production MoM | 1.3 | 0.1 | 0.7 | 1.00 | Medium |
| 23:50 | JP | Retail Sales MoM | -4.1 | 1.7 | -0.5 | -2.30 | Low |
| 23:50 | JP | Industrial Production YoY | 4.2 | -2.1 | 1.8 | 3.00 | Low |
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 03:00 | JP | BoJ Interest Rate Decision | 1 | 1 | 1 | 1.00 | High |
| 05:00 | JP | Construction Orders YoY | 2.3 | -6.7 | -7 | -2.35 | Low |
| 05:00 | JP | Housing Starts YoY | 18.6 | 33.9 | 12.8 | 15.70 | Medium |