For the second quarter in a row, the Finance Ministry said the domestic economy is "gradually recovering."
The ministry primarily cited demand driven by reconstruction projects in areas affected by last year's Great East Japan Earthquake and an increase in car exports to the United States.
Its assessment of the January-March period mirrored its report for the previous October-December quarter.
The ministry issued its findings on April 25 based on reports from heads of local finance bureaus throughout the country.
By region, the ministry was more upbeat about economic conditions in Tohoku, Tokai and Kyushu. As for the remaining eight regions, its assessment remained the same as for the October-December period.
Its upward revision in the Tokai and Kyushu regions reflected increases in the production of cars for the U.S. market and of semiconductors for smartphones exported to Asian countries.
By prefecture, the ministry revised upward its assessment for Iwate, Miyagi and Fukushima, which were all devastated by the March 11, 2011, disaster.
Consumer spending, housing construction and corporate investment in plants and equipment were bullish in those prefectures.
Many local finance bureaus say companies expect demand driven by reconstruction projects to soar further in the second half of this fiscal year.
The ministry noted that the tourism industry in Okinawa Prefecture had made a conspicuous recovery.
- « Prev
- Next »