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Prospects Weekly: Global industrial production declined 1.1% in April in the wake of the tsunami and earthquake in Japan

Global Macroeconomics Team's picture

Global industrial production declined 1.1% in April in the wake of the tsunami and earthquake in Japan, likely reflecting supply-chain disruptions. All developing regions reporting data for the month saw declines, and high- income countries excluding Japan saw a 1.2% drop. However, reconstruction activity in Japan and stabilization of fuel prices are expected to support a rebound in industrial production in the second half of 2011.