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Regional Economic Report (Summary) (October 2024)*

  • * 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 7, 2024
Bank of Japan

I. Regional Economic Assessments (Overview)

All nine regions reported that their respective economies had been recovering moderately, picking up, or picking up moderately, although some weakness had been seen in part.

Comparison of Previous and Current Assessments by Region
Region Assessment in July 2024 Changes from the previous assessment1 Assessment in October 2024
Hokkaido The economy has been picking up, although some weakness has been seen in part unchanged The economy has been picking up, although some weakness has been seen in part
Tohoku The economy has been picking up moderately unchanged The economy has been picking up moderately
Hokuriku The economy has shown movement toward recovery, as restoration demand and normalization of production have progressed, although downward pressure has been seen in part, due to the effects of the 2024 Noto Peninsula Earthquake, as the economy is still on its way to recovery upper right The economy has begun to recover moderately, although the effects of the 2024 Noto Peninsula Earthquake have been observed in part; attention is warranted regarding to what extent heavy rain in northern Noto Peninsula, which has caused significant damage to affected areas, will push down the economy, including in terms of consumer and business sentiment
Kanto-Koshinetsu The economy has been recovering moderately, although some weakness has been seen in part unchanged The economy has been recovering moderately, although some weakness has been seen in part
Tokai The economy has been recovering moderately, although some weakness has been seen in part upper right The economy has been recovering moderately
Kinki The economy has been recovering moderately, although some weakness has been seen in part unchanged The economy has been recovering moderately, although some weakness has been seen in part
Chugoku The economy has been on a moderate recovery trend unchanged The economy has been on a moderate recovery trend
Shikoku The economy has seen a slowdown in the pace of its pick-up unchanged The economy has been picking up moderately
Kyushu-Okinawa The economy has been recovering moderately, although some weakness has been seen in part unchanged The economy has been recovering moderately, although some weakness has been seen in part
  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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Inquiries

Regional Research Division, Research and Statistics Department

Tel : +81-3-3277-1357