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BOJ: Two Regions Hit by Disasters Earlier Revise Up on Reconstruction
BOJ: Seven Regions Maintain Oct Economic Outlook
TOKYO (MNI) - The Bank of Japan's quarterly regional economic report showed
that all nine regions reported their economies are either expanding or
recovering, which may indicate limited impact on Japan from a slowing global
economy and the China-U.S. trade dispute.
"Compared with the previous meeting in October 2018, the Hokkaido and
Chugoku regions, which had reported downward assessments due to the effects of
natural disasters, revised up their assessments, taking into account the
progress in restoration and reconstruction," the BOJ said in the report released
Key points from the report:
--"The virtuous cycle from income to spending had been maintained, as
exports had been on an increasing trend with overseas economies continuing to
grow firmly on the whole, labor market conditions had continued to tighten
steadily, and private consumption had been increasing moderately," the BOJ said.
--"Although the impact of uncertainties regarding overseas economies,
including the trade friction between U.S. and China, has been limited thus far,
a gradually increasing number of firms is pointing to some effects, such as a
decline in orders," the central bank said.
--All regions reported increasing capital investments and some said
production is on a rising trend, according to the BOJ.
--One chemical firm reportedly said its exports to China remain unclear
given uncertain impact of China's slowdown, according to the report.
--One electronic parts and device firm reported slowing orders from China
due to the trade dispute, and is worried about future demand, according to the
--One electric machine firm said that orders from China clearly dropped and
the company decided to delay planned capital investment worried about the risk
that the Chinese economy may slow further, according to the report.
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