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Regional Economic Report (Summary) (January 2022)*

  • 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, 2022
Bank of Japan

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, all of them reported that their respective economies had been picking up or had shown signs of a pick-up, with the impact of the novel coronavirus (COVID-19) waning somewhat, primarily in consumption of services.

Comparison of Previous and Current Assessments by Region
Region Assessment in October 2021 Changes from the previous assessment1 Assessment in January 2022
Hokkaido The economy has remained in a severe situation due to the impact of COVID-19, and has been more or less flat. upper right The economy has shown signs of a pick-up, although it has remained in a severe situation due to the impact of COVID-19.
Tohoku The economy has seen a pause in signs of a pick-up, due mainly to the impact of COVID-19. upper right The economy has shown signs of a pick-up in some sectors, with the number of confirmed new cases of COVID-19 having been at a low level.
Hokuriku The economy has picked up on the whole, although downward pressure on some sectors has continued to be exerted. upper right The economy has been picking up.
Kanto-Koshinetsu The economy has picked up as a trend, although it has remained in a severe situation, primarily in consumption of services. upper right The economy has been picking up, with the impact of COVID-19 waning somewhat, primarily in consumption of services.
Tokai The economy has seen a pause in signs of a pick-up. upper right The economy has been picking up.
Kinki The economy has been picking up on the whole but downward pressure on consumption has been strong due to the impact of COVID-19. upper right The economy has been picking up on the whole, with the impact of COVID-19 on consumption waning.
Chugoku The economy has seen a pause in signs of a pick-up. upper right The economy has shown signs of a pick-up.
Shikoku The economy has seen a slowdown in the pace of its pick-up due to the impact of COVID-19. upper right The economy has been picking up moderately, with the impact of COVID-19 waning.
Kyushu- Okinawa The economy has seen a slowdown in the pace of its pick-up. upper right The economy has been picking up, although it has remained in a severe situation due to the impact of COVID-19.
  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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