The Bank of Japan has upgraded its assessment of the Hokuriku region’s economy, saying it’s on a moderate recovery path. That’s despite the lingering effects of January’s earthquake in the Noto Peninsula.
The central bank and regional branch managers met on Monday, releasing the latest quarterly report on the country’s nine regional economies.
It says Hokuriku, in central Japan, has seen a pickup in electronic parts and other goods production since the quake.
The report also notes the damage from the torrential rains that hit the Noto area last month.
For most other regions it maintains its previous positive assessments of moderate pickups.
It cites firm consumer spending on the back of pay hikes, inbound tourism, and growing fixed investment by businesses.