Japan MOF Keeps Economic Views Intact for All Regions

Tokyo, April 22 (Jiji Press)–Japan’s Ministry of Finance kept its economic assessments unchanged for all of the country’s 11 regions in a quarterly report released Wednesday amid brisk private consumption and production activity. The ministry kept its overall assessment of the Japanese economy unchanged for the 11th straight quarter, saying that it was recovering gradually, while citing the need to closely monitor the impact of the conflict in the Middle East. In the report on regional economic conditions over the past three months, the ministry left its assessment of private consumption intact for all regions. The ministry upgraded its view on production activity for the Kanto eastern and Shikoku western regions. On employment, it lowered its view for Hokkaido, the country’s northernmost prefecture. The report listed concerns about the impact of the war in Iran. “Our recent travel sales are expected to fall from a year before as some tours were canceled,” a travel agency in the Tohoku northeastern region was quoted as saying in the report. A transportation machinery maker in the Tokai central region said that the company is in a situation where it has to reduce output for the Middle East. The report also cited concerns over the supply of materials for petroleum and other products. Looking ahead, the report said that the Japanese economy is expected to recover moderately in line with improvements in employment and income conditions as well as government policies. Still, it pointed to the need to scrutinize the effects of the Middle East conflict and fluctuations in financial and capital markets. END [Copyright The Jiji Press, Ltd.]