Japan's Industrial Production Hits Highest Level Since 2008
- April output rose from previous month by most since June 2011
- External demand seen supporting continuing economic recovery
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Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery.
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. Group of Seven finance chiefs agreed only to watered-down language about avoiding protectionism at their meeting in Italy. In Japan, stronger gains in wages and consumer spending will be needed for the economic recovery to become self-sustaining.