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TOKYO (MNI)

Bank of Japan officials expect the shortage of semiconductors to continue in the second quarter, prolonging the shortage for longer than expected and putting downward pressure on automobile production, MNI understands.

But the expected drop in industrial production will be eased by higher production of IT-related and capital goods driven by solid global demand.

Bank officials expect industrial production in the first quarter to rise q/q but they expect real gross domestic product during the period to contract due to weak private consumption, largely for food and beverage services and accommodation caused by the state of emergency.

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