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Regional Economic Report (Summary) (January 2024)*

  • * 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 11, 2024
Bank of Japan

I. Regional Economic Assessments (Overview)

All nine regions reported that their respective economies, despite being affected by a slowdown in the pace of recovery in overseas economies and by price rises, had been picking up, recovering moderately, or recovering steadily. However, one region reported that its economy had seen a slowdown in the pace of its pick-up due to weakness in exports.

Comparison of Previous and Current Assessments by Region
Region Assessment in October 2023 Changes from the previous assessment1 Assessment in January 2024
Hokkaido The economy has been picking up. unchanged The economy has been picking up.
Tohoku The economy has been picking up. unchanged The economy has been picking up.
Hokuriku The economy has been recovering moderately. unchanged The economy has been recovering moderately, although the impact of the Noto Peninsula Earthquake in 2024 warrants attention.
Kanto-Koshinetsu The economy has been recovering moderately. unchanged The economy has been recovering moderately.
Tokai The economy has been picking up. upper right The economy has been recovering moderately.
Kinki The economy has been picking up, although some weakness has been seen in part. lower right The economy has seen a slowdown in the pace of its pick-up.
Chugoku The economy has been recovering moderately. unchanged The economy has been recovering moderately.
Shikoku The economy has been picking up. unchanged The economy has been picking up.
Kyushu-Okinawa The economy has been recovering moderately. upper right The economy has been recovering steadily.
  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