In its Regional Economic Report, BoJ, upgraded assessment on Hokkaido and described the economy as “expanding moderately”, instead of “recovering moderately. Assessment on other eight regions were kept unchanged, as recovering, expanding, or expanding moderately.

BoJ also said that “domestic demand had continued on an uptrend, with a virtuous cycle from income to spending operating in both the corporate and household sectors, although exports, production, and business sentiment had been affected by the slowdown in overseas economies.”

Full report here.

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