Regional Economic Report (Summary) (Jan. 2021)

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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.

January 14, 2021Bank of Japan

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I. Regional Economic Assessments (Overview)

According to assessments from regions across Japan, many regions, while noting that their economy had been in a severe situation due to the impact of the novel coronavirus (COVID-19), reported that it had shown signs of a pick-up. However, the impact of a resurgence of COVID-19 had been pointed out recently, primarily in the services industry.

Comparison of Previous and Current Assessments by Region

Region	Assessment in October 2020	Changes from the previous assessment1	Assessment in January 2021
Hokkaido	The economy has started to pick up with economic activity resuming gradually, although it has remained in a severe situation due to the impact of COVID-19.		The economy has remained in a severe situation due to the impact of COVID-19, and the pace of a pick-up has recently slowed.
Tohoku	The economy has shown signs of a pick-up, although it has been in a severe situation.		The economy has shown signs of a pick-up, although it has been in a severe situation.
Hokuriku	The economy has been in a severe situation, although it is bottoming out.		The economy has started to pick up, although it has been in a severe situation.
Kanto-Koshinetsu	The economy has started to pick up with economic activity resuming gradually, although it has remained in a severe situation due to the impact of COVID-19 at home and abroad.		The economy has been picking up, although it has remained in a severe situation. However, the impact of a resurgence of COVID-19 has been seen recently, primarily in consumption of services.
Tokai	The economy has been picking up, even during the continued severe situation.		The economy has been picking up, even during the continued severe situation.
Kinki	The economy has shown signs of a pick-up recently, although it has remained in a severe situation due to the impact of COVID-19.		The economy has continued to show signs of a pick-up on the whole, although it has remained in a severe situation due to the impact of COVID-19.
Chugoku	The economy has shown signs of a pick-up, although it has remained in a severe situation due to the impact of COVID-19.		The economy has continued to show signs of a pick-up, although it has remained in a severe situation due to the impact of COVID-19.
Shikoku	The economy has continued to be weak due to the impact of COVID-19.		The economy has shown signs of a pick-up on the whole, although it seems to have paused in part, due to the impact of COVID-19.
Kyushu- Okinawa	The economy has been in a severe situation, although it has shown signs of a pick-up.		The economy has started to pick up, although it has been in a severe situation.

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