World IP suffered in March as Japan collapsed
In March 2011, the world IP was impacted by the strongest decline ever recorded in Japan.
On an annual basis, the world IP is up by 6.0%. Only the Emerging Asia and Latin America have surpassed its pre-crisis peak for production.
Despite March’s decline, the positive trend is intact for the overall production. The collapse in Japan will be temporary and a sharp rebound is expected in the next months. This strong industrial cycle is stronger in Asia (excl. Japan) but Europe and the US are getting their slice.