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Regional Economic Report (Summary) (July 2018)*

  • 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.

July 9, 2018
Bank of Japan

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, six regions (Hokuriku, Kanto-Koshinetsu, Tokai, Kinki, Chugoku, and Kyushu-Okinawa) reported that their economy had been expanding or expanding moderately, and three regions (Hokkaido, Tohoku, and Shikoku) noted that the economy had continued to recover moderately. These reports were based on the assessments that the virtuous cycle from income to spending had been maintained, as labor market conditions had continued to tighten steadily and private consumption had improved, while exports had been on an increasing trend with overseas economies growing firmly.

Compared with the previous assessment in April 2018, all nine regions reported that their assessments were unchanged. Meanwhile, the Kinki region reported that its economy had been expanding moderately, although effects of the earthquake in northern Osaka Prefecture (hereafter the earthquake) had been observed in some industries.

Comparison of Previous and Current Assessments by Region
Region Assessment in April 2018 Changes
from the
previous
assessment1
Assessment in July 2018
Hokkaido The economy has been recovering moderately. unchanged The economy has been recovering moderately.
Tohoku The economy has continued to recover moderately. unchanged The economy has continued to recover moderately.
Hokuriku The economy has been expanding. unchanged The economy has been expanding.
Kanto-
Koshinetsu
The economy has been expanding moderately. unchanged The economy has been expanding moderately.
Tokai The economy has been expanding. unchanged The economy has been expanding.
Kinki The economy has been expanding moderately at a steady pace. unchanged The economy has been expanding moderately, although effects of the earthquake have been observed in some industries.
Chugoku The economy has been expanding moderately. unchanged The economy has been expanding moderately.
Shikoku The economy has been recovering. unchanged The economy has been recovering.
Kyushu- Okinawa The economy has been expanding moderately, with its growth gaining a more solid footing. unchanged The economy has been expanding moderately, with its growth gaining a more solid footing.
  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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Inquiries

Regional Research Division, Research and Statistics Department

Yasutaka Shimada (Mr.)
Tel : +81-3-3277-1357