In the “Regional Economic Report” released on the 11th, the Bank of Japan lowered its economic judgment in eight of the nine regions nationwide. Consumption is declining due to the spread of Omicron strains, and the supply of parts continues to be in short supply.
The Bank of Japan held a branch managers’ meeting once every three months for the first time in regarding two years, with each branch manager gathering at the head office, and released a “Regional Economic Report” summarizing the current state of the economy nationwide.
According to that, out of the nine regions nationwide,
Economic judgments have been lowered from the previous report in eight regions: Hokkaido, Tohoku, Hokuriku, Kanto Koshinetsu, Tokai, Kinki, Shikoku, and Kyushu / Okinawa.
On the other hand, China has been deferred from the previous time.
The reasons for lowering the judgment in the eight regions are that the supply of semiconductors and other parts continues to be in short supply in the automobile industry, and consumption is declining mainly in service-related areas such as eating and drinking and lodging due to the spread of infection with the Omicron strain. is.
Especially when it comes to consumer spending, we lowered our judgment in all nine regions.
The Bank of Japan says it will carefully look at the impact on the economy and prices as the prices of raw materials such as crude oil and wheat are rising due to Russia’s invasion of Ukraine.
Osaka branch manager “There is a movement to pick up …”
Regarding the outlook, he said, “The tense situation in Ukraine may push down personal consumption, corporate profits, and even capital investment through rising prices of energy, food, and raw materials in the Kansai region.” He expressed his intention to carefully look at the impact on the economy.
