Japan MOF Revises Down Economic Views for 4 Regions

Economy

Tokyo, Oct. 27 (Jiji Press)--The Ministry of Finance has revised down its economic assessments for four of Japan's 11 regions, citing weak automobile output and personal consumption, a quarterly report showed Wednesday.

Automakers are reducing vehicle production due to the global shortage of semiconductors and a delay in parts supplies from Southeast Asia.

The four are the Tokai central Japan region, the Chugoku and Shikoku western regions and the Fukuoka southwestern region. The ministry revised up its assessment for the Kyushu southwestern region on strong chip production, while keeping intact its views on the other six regions.

The ministry revised down its economic assessment of Japan for the first time in 18 months, saying that the pace of its economic recovery is slowing under tough conditions.

Looking ahead, the ministry stressed the need to pay attention to downside risks arising from supply chain constraints and the impact of the spread of the novel coronavirus on regional economies.

[Copyright The Jiji Press, Ltd.]

Jiji Press