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Regional Economic Report (Summary) (April 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.

April 11, 2022
Bank of Japan

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, many of them maintained their assessment that their respective economies had shown a pick-up. Compared with the previous assessment, however, eight regions revised down their assessments, mainly reflecting a resurgence of the novel coronavirus (COVID-19) and supply-side constraints in some sectors.

Comparison of Previous and Current Assessments by Region
Region Assessment in January 2022 Changes from the previous assessment1 Assessment in April 2022
Hokkaido The economy has shown signs of a pick-up, although it has remained in a severe situation due to the impact of COVID-19. lower right The economy has seen a pause in signs of a pick-up as downward pressure has been strong due to the impact of COVID-19.
Tohoku 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. lower right The economy has seen a pause in signs of a pick-up.
Hokuriku The economy has been picking up. lower right The economy has seen a pause in signs of a pick-up.
Kanto-
Koshinetsu
The economy has been picking up, with the impact of COVID-19 waning somewhat, primarily in consumption of services. lower right The economy has picked up as a trend, although it has been weak, mainly due to the impact of COVID-19.
Tokai The economy has been picking up. lower right The economy has seen a pause in signs of a pick-up.
Kinki The economy has been picking up on the whole, with the impact of COVID-19 on consumption waning. lower right The economy has generally been on a pick-up trend, although the impact of COVID-19 on consumption has been observed.
Chugoku The economy has shown signs of a pick-up. unchanged The economy has been on a moderate pick-up trend, although downward pressure has continued to be exerted, particularly on services consumption.
Shikoku The economy has been picking up moderately, with the impact of COVID-19 waning. lower right The economy has been picking up moderately, but effects of downward pressure stemming mainly from COVID-19 have been seen in some sectors.
Kyushu-
Okinawa
The economy has been picking up, although it has remained in a severe situation due to the impact of COVID-19. lower right The economy has seen a slowdown in the pace of its pick-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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