The Bank of Japan on Monday upgraded its assessment of all of the country's nine regional economies compared with three months earlier on the back of solid domestic demand including spending and housing investment, with signs of improvement in employment and incomes.
All regions noted improvement in their economies, with eight of them using the word "recovery" in their assessments, the central bank said in its quarterly "Sakura Report" on regional economies released after a meeting of the BOJ's branch managers.
The report indicated that the economic recovery has started to spread from urbanized areas to regional economies, led mainly by firm domestic demand such as continued resilience in consumer spending as well as increased housing and public investment.
Source: NewsOnJapan
