BoJ: Japan's All Nine Regions Show Signs Of Picking Up

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Monday, the Bank of Japan said the country's all nine regional economies are improving as the nation recovers from its worst recession.

"Signs of picking up had appeared throughout the economy, although regional differences remained," the central bank said in its latest quarterly regional economic report. Compared with the assessment in July 2009, all regions revised their assessments, although Hokkaido, Tohoku, Hokuriku, Kinki, and Shikoku continued to report that their economies were in a severe situation, the report said.

Private consumption continued to be weak in all regions amid the severe employment and income situation, despite the appearance of some policy effects. Business fixed investment declined substantially, mainly reflecting weak corporate profits. Industrial production picked up in all regions, although there were some regional differences in the pace of increase.

The employment and income situation continued to deteriorate as many regions maintained their previous assessments, but Kinki reported the situation deteriorated. On the other hand, Tohoku and Tokai reported that the pace of deterioration had slowed.

As for household income, almost all regions maintained their previous assessments with the exception of Kinki, which reported an acceleration in the pace of decline.

Monday, the Bank of Japan said the country's all nine regional economies are improving as the nation recovers from its worst recession. (Market News Provided by RTTNews)