The Bank of Japan on Monday offered a mixed view of the nation’s local economies, saying some areas continue to struggle with the impact of the coronavirus pandemic while many regions are showing signs of recovery.
The BOJ lowered its view on two of Japan’s nine local economies, including the region at the western edge of the country’s main island. The pace of the pickup in two regions has moderated, the bank said in its quarterly Sakura Report, Japan’s equivalent of the Federal Reserve’s Beige Book report.
The central bank raised its assessment on two other local economies, such as the western region including Osaka prefecture. It maintained its view on the remaining areas.
Some machinery makers in the western region said global shipments of construction equipment, especially for North American and Chinese companies, have been increasing, while demand for chipmaking machines from China and Taiwan is expected to remain strong until fall, according to the report.
Source: Dow Jones