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.