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Regional Economic Report (Summary) (July 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.

July 11, 2022
Bank of Japan

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, many of them reported that, although the effects of supply-side constraints had been observed, partly brought about by lockdowns in China, their respective economies had been picking up moderately with the impact of the novel coronavirus (COVID-19) on private consumption waning.

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