Japanese industrial production bounces

Here's another green shoot from the global economy. Japan's industrial production late last year collapsed along with global trade and commodity prices, but in the past two months it has turned up significantly. This confirms the signals from commodity prices, energy prices, container shipments and shipping rates: global trade has rebounded, and the global economy is on the mend. There is still a lot of mending to do, of course, but the important thing is that we have seen the worst. Confidence is being rebuilt, and activity and prices will most likely continue to improve.