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Regional Economic Report (Summary) (January 2023)*

  • 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 12, 2023
Bank of Japan

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, many of them reported that their respective economies, despite being affected by factors such as high commodity prices, had been picking up or had been picking up moderately, as the effects of supply-side constraints had waned and as the resumption of economic activity had progressed while public health had been protected from the novel coronavirus (COVID-19).

Comparison of Previous and Current Assessments by Region
Region Assessment in October 2022 Changes from the previous assessment1 Assessment in January 2023
Hokkaido The economy has been picking up moderately. unchanged The economy has been picking up moderately.
Tohoku The economy has been picking up moderately. unchanged The economy has been picking up moderately.
Hokuriku The economy has picked up as a trend. upper right The economy has been picking up.
Kanto-Koshinetsu The economy has picked up as a trend, as the resumption of economic activity has progressed while public health has been protected from COVID-19 and as the effects of supply-side constraints have waned. upper right The economy has been picking up, as the resumption of economic activity has progressed while public health has been protected from COVID-19.
Tokai The economy has seen a pause in signs of a pick-up. unchanged The economy has been more or less flat.
Kinki The economy has been picking up on the whole, with the impact of COVID-19 waning. upper right The economy has been picking up, as the resumption of economic activity has progressed while public health has been protected from COVID-19.
Chugoku The economy has been picking up moderately. unchanged The economy has been picking up moderately.
Shikoku The economy has been picking up moderately on the whole while the effects of supply-side constraints have remained in some sectors. unchanged The economy has been picking up moderately.
Kyushu-Okinawa The economy has been picking up moderately. upper right The economy has been picking up.
  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 assessment.

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Inquiries

Regional Research Division, Research and Statistics Department

Tel : +81-3-3277-1357