Kyushu Economy Shows Slow Recovery: BOJ Report

The Bank of Japan's Fukuoka Branch has released its report on Kyushu's economic conditions for October, noting that the regional economy is recovering slowly, though some sectors continue to show signs of weakness.

Personal Consumption: Steady Despite Inflation

Consumer spending remains firm overall, even as inflation persists.

• Department stores: strong

• Supermarkets: holding steady

• Convenience stores: steadily progressing

• Home appliances: flat

• New passenger car registrations: recovering

• Tourism services: increasing

＜Reference＞

金融経済概況（九州・沖縄）/日本銀行福岡支店

https://www3.boj.or.jp/fukuoka/gaikyo.html

Housing Investment: Weakening

Housing investment has softened, with the number of new housing starts in August falling below last year's level.

Public Investment: Increasing

Public-sector investment continues to rise.

Capital Investment: Strong

Corporate capital investment remains solid.

Exports: Softening

Exports show signs of weakening, although the estimated export value for August exceeded that of the previous year.

Production: Flat Overall

Industrial production is generally flat, with mixed performance across sectors:

• Automobiles: decline has stopped

• Shipbuilding: increasing

• Electrical equipment: strong overall, though partly weak

• Chemicals: recovering

• Metals: some weakness

• Food products: decreasing

Employment and Income: Recovering

Labor market conditions and household income levels continue to improve.

Prices: Inflation Persists

Consumer prices in August rose 3.2% year-on-year, reflecting ongoing inflationary pressure.