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REPEAT: POLICY: BOJ: Regions See Recovery Broadly On Track
--BOJ: 6 Out of 9 Japan regions Keep Econ View From Oct, 3 Regions Cut
TOKYO (MNI) - Japan's economy continues to either expand or recover in all
its nine regions as domestic demand, such as capital investment and private
consumption, continue rising, the Bank of Japan's quarterly regional economic
report showed Wednesday.
"According to assessment from regions across Japan, all nine regions
reported that their economy had been either expanding or recovering," the report
The report noted that the slowdown in overseas economies and natural
disasters were affecting exports, production and business sentiment, but the
impact was limited.
It added, "The background to this was that domestic demand, in terms of
such items as business fixed investment and private consumption, had continued
on an uptrend, with a virtuous cycle from income to spending operating in both
the corporate and household sectors, although exports, production and business
sentiment had shown some weakness, mainly affected by the slowdown in overseas
economies and natural disasters."
Although still seeing a recovery, three of the nine regions trimmed their
assessment from three months ago, with the remaining six regions keeping their
The key points from the report:
--Many regions said that capital investment was increasing or was flat at
high levels and private consumption was increasing or recovering.
IMPACT OF NATURAL DISASTERS
--Auto parts factories were affected and they are affecting overall motor
production. The impact was serious, a transport equipment machine company said.
--Orders and production plunged due to the damage of supply chain. It is
unlikely that demand picks up immediately amid the drop of production, a
transport equipment machine firm said.
--Production of auto parts continues falling. A quick recovery of
production is not expected on the back of weak global sales for automobiles, a
transport equipment firm in Yokohama said.
--Orders fell sharply as customers continue to refrain from implementing
capital investment. The outlook for recovery doesn't come in sight, a production
machine firm in Kanazawa said.
--Demand for 5G communication equipment recovered sharply and there was an
accelerated implementation of capital investment planned in fiscal 2020, an
electronic parts and device company in Yokohama said.
--An electronic parts and device firm in Akita said the company keeps high
capital investment plan in fiscal 2020 and stands ready to actively implement
POST-TAX HIKE SPENDING
--A commercial area shop said the impact of worsening of consumer sentiment
and the fall in real income caused by the tax hike wasn't noticed.
--The number of visitors has fallen and people might have saved money after
the tax hike, a drinking/eating store.
--The registration of new automobiles has fallen sharply after the tax hike
but the company expects orders to pick up due to the introduction of new cars,
an automobile sales firm in Kanazawa said.
--MNI London Bureau; tel: +44 203-586-2225; email: email@example.com
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