BOJ's Economic Views Raised for 2 Regions, Lowered for 2 Others

Economy

Tokyo, July 8 (Jiji Press)--The Bank of Japan upgraded its economic assessments for two of the country's nine regions and lowered them for two others, in a quarterly report released Monday.

The Hokuriku central and Kinki western regions got better assessments while the northernmost region of Hokkaido and another western region of Shikoku did otherwise.

In the "sakura" report, adopted at the day's meeting of its branch managers, the BOJ said private consumption in Hokuriku "has shown movement toward recovery" due to demand linked to reconstruction efforts following the Jan. 1 Noto Peninsula earthquake, which mainly struck the region.

The assessment for Kinki was raised, as the impact of production and shipping suspensions at some automakers due to vehicle test fraud receded and as inbound tourism demand pushed up private consumption.

On the other hand, the bank saw consumer spending fall on the back of price surges in Hokkaido and Shikoku.

[Copyright The Jiji Press, Ltd.]

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