Hokuriku economic judgment revised downward Impact of US-China trade friction Ministry of Finance October 30 14:00
The Ministry of Finance reports the current state of the economy in each region at a meeting that gathered the Directors of Finance across the country, and revised the economic judgment of the "Hokuriku" region downsided that the production of companies was affected by trade friction between the United States and China Did. However, we maintained the judgment that the economy of the whole country was “recovering”.
The Finance Directors' Meeting was held every three months, and on the 30th, there were reports on the current state of the economy in 11 regions nationwide.
Of these, "Hokuriku" is down on the economic judgment that the orders for production machinery for China are decreasing due to the economic slowdown in China due to trade friction between the US and China. It was corrected to.
It is the first time in six years and nine months since January 2013 that Hokuriku's economic judgment has been revised downward.
The economic judgments of the other 10 regions were all left unchanged as “expansion” and “recovery”, but the “Kanto” and “China” regions said “ Added the expression "There are also weaknesses."
On the other hand, with regard to the impact of the consumption tax hike, although some reports have reported that sales have declined after tax increases at department stores and consumer electronics mass retailers, domestic demand such as personal consumption has not changed significantly.
For this reason, the Ministry of Finance maintained the judgment that the current state of the nation ’s economy was “recovering”, but the outlook for the future is that attention should be paid to the effects of disasters such as typhoons and the increase in the consumption tax rate. .