Regional Economic Report (Summary) (July 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.
I. Regional Economic Assessments (Overview)
Eight regions, excluding the Hokuriku region, reported that their respective economies had been recovering moderately, picking up, or picking up moderately, although some weakness had been seen in part. The Hokuriku region reported that its economy had shown movement toward recovery, although downward pressure had been seen in part, due to the effects of the 2024 Noto Peninsula Earthquake (hereafter the earthquake).
| Region | Assessment in April 2024 | Changes from the previous assessment1 | Assessment in July 2024 |
|---|---|---|---|
| Hokkaido | The economy has been picking up |  |
The economy has been picking up, although some weakness has been seen in part |
| Tohoku | The economy has been picking up moderately |  |
The economy has been picking up moderately |
| Hokuriku | The economy has shown signs of a pick-up, as restoration demand and normalization of production have progressed, although downward pressure on private consumption and production has been seen in part, due to the effects of the earthquake, as the economy is still on its way to recovery |  |
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 earthquake, as the economy is still on its way to recovery |
| Kanto-Koshinetsu | The economy has been recovering moderately, although some weakness has been seen in part |  |
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 |  |
The economy has been recovering moderately, although some weakness has been seen in part |
| Kinki | The economy has been picking up moderately as a trend, although some weakness has been seen in part |  |
The economy has been recovering moderately, although some weakness has been seen in part |
| Chugoku | The economy has been on a moderate recovery trend |  |
The economy has been on a moderate recovery trend |
| Shikoku | The economy has been picking up |  |
The economy has seen a slowdown in the pace of its pick-up |
| Kyushu-Okinawa | The economy has been recovering moderately, although some weakness has been seen in part |  |
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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