The Ministry of Finance compiled its assessment of the national economy, stating that the economy is "recovering moderately," but said it was necessary to pay attention to the downturn in overseas economies and rising prices.
On the 31st, the Ministry of Finance held a tri-monthly meeting of finance bureau chiefs to summarize the current state of the economy in 11 regions nationwide.
According to this, the same judgment was made for the fifth consecutive quarter since January last year, saying that the nationwide economy was "recovering moderately."
By item,
``Personal consumption'' shows a decline in consumer sentiment due to the rise in prices, while the lodging and retail industries are doing well due to an increase in the number of foreign tourists accompanying the easing of border measures. Therefore, it is said that it is “gradually picking up.”
In addition,
▽ "Employment situation" is also "recovering" based on the increase in job offers in the accommodation and restaurant industries due to the recovery in tourism demand.
On the other hand,
▽ corporate "production activities" are said to be "recovering at a moderate pace" due to weakening orders for electronic parts for home appliances.
By region, 6 out of 11 regions left the decision unchanged, while 5 regions, Chugoku, Shikoku, Kyushu, Fukuoka, and Okinawa, raised the decision.
As for the outlook, it is necessary to pay close attention to the impact of rising prices and the spread of the novel coronavirus in China, in addition to downside risks to overseas economies due to global monetary tightening.