Economic Trends Research, October 2022
Domestic economy improved for the third straight month
— With the yen at its lowest level in 32 years, tourism-related demand is picking up, supported by National Travel Discount Program.. —
Trends in October 2022: Tendency toward improvement
The economic diffusion index (DI) in October 2022 was 42.6, up 0.7 points from the previous month in its third consecutive month of improvement. It has regained and exceeded its pre-pandemic level. The domestic economy showed a tendency toward improvement for the third straight month with rising demand for personal services.
Future outlook: Continued trend toward gradual improvement
Service consumption and demand for DX are expected to expand, and the outlook is toward gradual improvement.
Primary points of survey results(summary)
- 1 By industry: Improved in eight industries. Tourism-related demand improved greatly with the start of National Travel Discount Program.
- 2 By size: Businesses of all scales saw their first improvement in two months, and the return of foot traffic is driving personal consumption.
- 3 By region: Improvement was seen in all ten regions for the first time in a year. Tourism-related demand is giving a boost to regional economies.
Economic and Industry Trends TOP