MOF Revises Up Economic Views for All Regions for 2nd Qtr.

Economy

Tokyo, Oct. 28 (Jiji Press)--Japan's Ministry of Finance revised up its economic assessments for all 11 regions in the country for the second straight quarter, a survey report by the ministry showed Wednesday.

The upward revisions mainly reflected improvements in production and consumption on the back of efforts to balance measures to prevent the spread of the new coronavirus and those to revive economic activities.

The ministry also revised up its assessment of the Japanese economy as a whole, saying that there are signs of recovery. But the ministry kept its view that the economy remains in a harsh situation, saying it is at low levels compared with before the virus crisis.

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

The ministry upgraded its views on production for all 11 regions. A recovery in automobile demand in and outside the country led to better assessments for regions that host many auto factories, including Tokai, Chugoku and Fukuoka, while steady sales of electronic parts and devises amid widespread efforts of digitalization also contributed to the upward revisions for some regions.

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Jiji Press