The Bank of Japan upgraded its assessment Thursday for eight of the country’s nine regional economies compared with three months earlier, citing increased resilience in domestic demand on the back of improving consumer and corporate sentiment as well as a pickup in overseas economies.
All regions except Tohoku noted improvement in their economies as many reported a pickup in private spending and production activities, the central bank said in its quarterly “Sakura Report” on regional economies released after a meeting of the BOJ’s branch managers.
The BOJ kept unchanged its assessment on Tohoku in northeastern Japan hit hard by the devastating 2011 earthquake and tsunami, saying that the economy has begun to recover.
In its last report released in April, all nine regional economies upwardly revised the assessments.j
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