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Regional Economic Report (Summary) (October 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.

October 6, 2022
Bank of Japan

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, many of them reported that their respective economies had been picking up moderately, as the effects of supply-side constraints had waned and as the resumption of economic activity had progressed while public health was being protected from the novel coronavirus (COVID-19).

Comparison of Previous and Current Assessments by Region
Region Assessment in July 2022 Changes from the previous assessment1 Assessment in October 2022
Hokkaido The economy has been picking up moderately, although the impact of COVID-19 has been observed. unchanged The economy has been picking up moderately.
Tohoku The economy has been picking up moderately. unchanged The economy has been picking up moderately.
Hokuriku The economy has picked up as a trend. unchanged The economy has picked up as a trend.
Kanto-Koshinetsu 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. unchanged The economy has picked up as a trend, as the resumption of economic activity has progressed while public health has been protected from COVID-19 and as the effects of supply-side constraints have waned.
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 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. unchanged The economy has been picking up on the whole, with the impact of COVID-19 waning.
Chugoku The economy has been picking up moderately, although downward pressure has remained. upper right The economy has been picking up moderately.
Shikoku The economy has been picking up moderately on the whole, although the effects of supply-side constraints have been observed in some sectors. unchanged The economy has been picking up moderately on the whole while the effects of supply-side constraints have remained in some sectors.
Kyushu-Okinawa The economy has been picking up moderately. unchanged 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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