MOF Revises Down Economic Views for 4 Regions

Economy

Tokyo, Jan. 28 (Jiji Press)--Japan’s Ministry of Finance revised down its economic assessments for four of the 11 regions in the country, a quarterly survey report by the ministry showed Thursday.

The downward revisions for the Hokkaido, Kanto, Kyushu and Okinawa regions came as the rapid spread of the novel coronavirus slowed the pace of recovery in consumption in the accommodation, restaurant and other services sectors.

The ministry kept unchanged from its previous report released in October 2020 its basic view that the Japanese economy as a whole is picking up, while adding an expression that weakness is seen in some parts.

The report, designed to check economic conditions in the past three months in the 11 regions, was compiled at the day’s online meeting of heads of the ministry’s local finance bureaus. Each bureau conducted hearings mainly between mid-December and mid-January.

The impact of the Japanese government’s declaration in early January of a state of emergency over the coronavirus epidemic is reflected in the latest report. The government issued such a declaration for the second time after the one in spring last year.

[Copyright The Jiji Press, Ltd.]

Jiji Press