The earthquake, tsunami and ensuing damage to nuclear power plants that rocked Japan in early March were blamed for a good chunk of the slowdown that hit the U.S. economy this spring. But now Moody’s Analytics is reporting that half of the loss of output in Japanese economic and industrial activity resulting from the disaster has rebounded, and the outlook for 2012 is for 3.2% growth.
Tu Packard, a senior economist at Moodys Analytics, told On Wall Street that many of the suppliers of critical parts to U.S. industrial companies -- particularly the auto industry -- which had been shut down by either the earthquake or by the loss of electrical power following the Fukushima nuclear plant meltdowns are now back in production.
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