BOJ downgrades assessment for 2 of 9 regions

Bank of Japan (BOJ), in its latest regional economic report for the month of October, revised lower assessment for two regions - Hokkaido and Chugoku - due to natural disasters.

Key points (Source: BOJ)

The Kinki region maintained its assessment that its economy had been expanding moderately, although the effects of Typhoon Jebi (Typhoon No. 21), which hit in September, were being observed.

The other six regions (Tohoku, Hokuriku, Kanto-Koshinetsu, Tokai, Shikoku, and Kyushu-Okinawa) reported that their assessments were unchanged.

The virtuous cycle from income to spending had been maintained, as labor market conditions had continued to tighten steadily and private consumption had been increasing moderately.

Exports had been on an increasing trend with the overseas economies growing firm.