BOJ Upgrades Economic Assessment for 2 of Japan's 9 Regions
Tokyo, Oct. 8 (Jiji Press)--The Bank of Japan revised up its economic assessment for two of the country's nine regions in a quarterly report released Thursday while leaving it unchanged for the rest. The central bank compiled the report at the day's meeting of managers of its regional branches, which was held at its headquarters in Tokyo. Demand related to artificial intelligence remained s...
The Bank of Japan (BOJ) has upgraded its economic assessment for two of Japan's nine regions in a quarterly report. The central bank maintained its assessment for the remaining seven regions, leaving them unchanged. The report, compiled at the BOJ's quarterly meeting of its regional branch managers in Tokyo, highlighted a strong demand related to artificial intelligence, particularly for semiconductor manufacturing equipment and electronic components.
The BOJ raised its economic assessment for the Tohoku region, located in the northeastern part of Japan, from the view that the economy has been "picking up" to "recovering moderately." Similarly, the central bank raised its outlook for the Shikoku region, situated in the western part of the country, from "picking up moderately" to simply "picking up." This comes after some analysts noted that while the economy has been showing a moderate recovery trend, there has been a degree of weakness in certain areas.
In a related interview, an electrical equipment manufacturer from the Osaka prefecture noted that demand driven by AI-related activities has been increasing faster than initially anticipated. The company's forecast suggests that this robust demand is likely to persist for approximately the next three years.
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