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Financial News: BoJ Says Most Japan Regional Economies Show Signs

BoJ Says Most Japan Regional Economies Show Signs Of Improvement

01/12/2023 - 04:09:00 (RTTNews)

(RTTNews) - Most of Japan's regional economies showed signs of picking up despite being affected by high commodity prices, and employment and income situation has been improving in almost all regions, a quarterly report from the Bank of Japan showed on Thursday.

In the latest Regional Economic Assessment report, the BoJ upgraded the assessment of four regions and maintained its view on the remaining five regions compared to the assessment released in October.

Based on the opinion of all regional research divisions, the central bank said regions across the country had been picking up or had been picking up moderately, reflecting waning effects of supply-side constraints and the resumption of economic activity after disruptions caused by the pandemic related restrictions.

The BoJ raised its view on Hokuriku, Kanto-Koshinetsu, Kinki and Kyushu-Okinawa regions. The assessment about Hokkaido, Tohoku, Tokai, Chugoku and Shikoku were retained. However, the BoJ was less upbeat about Tokai saying the economy has seen a pause in signs of a pick-up.

Regarding employment and income, most of the regions reported that their employment and income situation has been improving or improving moderately.

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