Japan's industrial production hits highest level since 2008
|Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery, Bloomberg reports.
Key Points:
Industrial production increased 4.0% (forecast +4.2%) in April from March, when it fell 1.9%
Industrial production index rose to 103.8 in April
Output is forecast to fall 2.5%in May and rise 1.8% in June
Key Takeaways:
A recovery in exports has helped drive Japan’s economy to five consecutive quarters of growth, the longest run in a decade.
But there are risks to the outlook for global trade, including protectionism and geopolitics.
G7 finance chiefs agreed only to watered-down language about avoiding protectionism at their meeting in Italy.
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