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Regional Economic Report (Summary) (January 2017)*

  • This report summarizes the reports from all regional research divisions, mainly at the Bank's branches in Japan, and is based on data and other information gathered for the meeting of general managers of the Bank's branches held today. The English translation is based on the Japanese original.

January 16, 2017
Bank of Japan

According to reports from regions across Japan, the Tokai region reported that its economy had been expanding moderately, and the other eight regions noted that the economy had continued its moderate recovery trend. These reports were based on the assessments that a virtuous cycle from income to spending had been maintained, while overseas economies had continued to grow at a moderate pace.

Compared with the last assessment in October 2016, three regions (Tohoku, Kanto-Koshinetsu, and Tokai) revised their assessments upward. This was based on the judgment that all three regions revised up their assessments regarding private consumption, as the effects of the decline in stock prices after early 2016 and of the irregular weather seen that summer had waned, and the Tohoku and Kanto-Koshinetsu regions upgraded their assessments on production as well, citing that the effects of the slowdown in emerging economies had eased. Meanwhile, the other six regions reported that their assessments regarding the pace of economic improvement had remained unchanged.

Table : Comparison of Previous and Current Assessments by Region
Region Assessment in October 2016 Changes
from the
previous
assessment1
Assessment in January 2017
Hokkaido The economy has been recovering moderately. unchanged The economy has been recovering moderately.
Tohoku The economy has continued its moderate recovery trend, although production has been affected mainly by the slowdown in emerging economies. upper right The economy has continued its moderate recovery trend.
Hokuriku The economy has continued to recover, although sluggish movements have been observed in some aspects. unchanged The economy has continued to recover.
Kanto-Koshinetsu The economy has continued to recover moderately, although exports and production have been affected mainly by the slowdown in emerging economies. upper right The economy has continued its moderate recovery trend.
Tokai The economy has been expanding moderately, albeit at a somewhat reduced pace. upper right The economy has been expanding moderately.
Kinki The economy has been recovering moderately. unchanged The economy has been recovering moderately.
Chugoku The economy has been recovering moderately. unchanged The economy has been recovering moderately.
Shikoku The economy has continued to recover moderately. unchanged The economy has continued to recover moderately.
Kyushu-Okinawa The economy has been recovering moderately, with the effects of the Kumamoto Earthquake having eased. unchanged The economy has been recovering moderately.
  1. With regard to the changes from the previous assessment, arrows pointing to the upper right or lower right indicate changes in the pace of improvement or deterioration compared with the previous assessments, respectively. For example, an acceleration in the pace of improvement or deceleration in the pace of deterioration is indicated with an arrow pointing to the upper right. A horizontal arrow pointing to the right indicates that the pace of improvement or deterioration in economic conditions is unchanged compared with the previous assessments.

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