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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
