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Regional Economic Report (Summary) (Apr. 2018)

Summary:
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 12, 2018 Bank of Japan Full Text [PDF 86KB] I. Regional Economic Assessments (Overview) According to assessments from regions across Japan, six regions (Hokuriku, Kanto-Koshinetsu, Tokai, Kinki, Chugoku, and Kyushu-Okinawa) reported that their economy had been expanding or expanding moderately, and three regions (Hokkaido, Tohoku, and Shikoku) noted that the economy had continued to recover moderately. These reports were based on the assessments that

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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 12, 2018 Bank of Japan

Full Text [PDF 86KB]

I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, six regions (Hokuriku, Kanto-Koshinetsu, Tokai, Kinki, Chugoku, and Kyushu-Okinawa) reported that their economy had been expanding or expanding moderately, and three regions (Hokkaido, Tohoku, and Shikoku) noted that the economy had continued to recover moderately. These reports were based on the assessments that the virtuous cycle from income to spending had been maintained, as labor market conditions had continued to tighten steadily and private consumption had improved, while exports had been on an increasing trend with overseas economies growing firmly.

Compared with the previous assessment in January 2018, the Shikoku and Kyushu-Okinawa regions revised up their assessments based on the improvement in private consumption. On the other hand, the Hokkaido region revised down its assessment, due mainly to public investment having turned downward as construction orders related to restoration following the typhoon disaster in summer 2016 had come to a halt. Meanwhile, the other six regions reported that their assessments were unchanged.

Comparison of Previous and Current Assessments by Region
Region Assessment in January 2018 Changes from the previous assessment1 Assessment in April 2018
Hokkaido The economy has been recovering. Regional Economic Report (Summary) (Apr. 2018) The economy has been recovering moderately.
Tohoku The economy has continued to recover moderately. Regional Economic Report (Summary) (Apr. 2018) The economy has continued to recover moderately.
Hokuriku The economy has been expanding. Regional Economic Report (Summary) (Apr. 2018) The economy has been expanding.
Kanto- Koshinetsu The economy has been expanding moderately. Regional Economic Report (Summary) (Apr. 2018) The economy has been expanding moderately.
Tokai The economy has been expanding. Regional Economic Report (Summary) (Apr. 2018) The economy has been expanding.
Kinki The economy has been expanding moderately, with its growth becoming more solid. Regional Economic Report (Summary) (Apr. 2018) The economy has been expanding moderately at a steady pace.
Chugoku The economy has been expanding moderately. Regional Economic Report (Summary) (Apr. 2018) The economy has been expanding moderately.
Shikoku The economy has continued to recover moderately. Regional Economic Report (Summary) (Apr. 2018) The economy has been recovering.
Kyushu- Okinawa The economy has been expanding moderately. Regional Economic Report (Summary) (Apr. 2018) The economy has been expanding moderately, with its growth gaining a more solid footing.
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 assessments.

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Inquiries

Regional Research Division, Research and Statistics Department

Yoshikazu Morimoto (Mr.) Tel : +81-3-3277-1357

Bank of Japan
The Bank of Japan (BOJ) also known as Nippon Ginko, is the central bank of Japan. The Bank is often called Nichigin for short. It has its headquarters in Chuo, Tokyo.

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