Japan MOF Revises Up Economic Views for All Regions

Economy

Tokyo, Aug. 4 (Jiji Press)--Japan's Ministry of Finance revised up its economic assessments for all 11 regions in the country, citing the bottoming out of consumer spending and production after drops caused by the new coronavirus outbreak, a quarterly report showed Tuesday.

It was the first time for the ministry to upgrade its assessments for all regions since records began in April 1996.

The ministry also revised up its overall assessment of the Japanese economy for the first time in two years and nine months, saying that there are signs of recovery in some areas. In the previous April report, the ministry said that the economic situation was extremely serious.

The latest report was compiled after economic conditions over the past three months in the 11 regions were reported at Tuesday's meeting of heads of the ministry's local finance bureaus. Each bureau conducted hearings mainly from mid-June to late July.

The ministry upgraded its views on consumer spending for all regions.

[Copyright The Jiji Press, Ltd.]

Jiji Press