Business Matters

Economic consequences of the earthquake and tsunami will be felt across East Asia but will be ‘short-lived,’ the World Bank predicts. Japan’s GDP growth could be slowed by as much as half a percentage point this year.

The disaster could lead to a long-term disruption in the world’s supply of automobiles, consumer electronics and machine tools.

The U.S. Business and Industry Council says American companies rely heavily on Japanese industrial equipment such as machine tools and turbines and are vulnerable to production disruptions.