Information Releases

November. 2022

Economic Trends Research, November 2022

Domestic economy improved for the fourth straight month
— Amidst 8th wave of COVID infections, economy is buoyed up by increases in inbound consumption and year-end demand —

Trends in November 2022: Tendency toward improvement

The economic diffusion index (DI) in November 2022 was 43.1, up 0.5 points from the previous month in its fourth consecutive month of improvement. Amidst the 8th wave of COVID-19, the domestic economy improved for the fourth consecutive month, with upturns in seasonal demand and tourism-related demand.

Future outlook: Continued trend toward gradual improvement

Although there are concerns that the global economy is slowing down, Japan’s economy is expected to show a trend toward gradual improvement centering around tourism-related demand and other service consumption.

Primary points of survey results(summary)

1. 1 By industry: improvements in all 10 industries, driven by year-end demand and favorable accommodation industry trend.
2. 2 By size: Businesses of all scales showed an improvement for the second consecutive month. Strong showings for seasonal merchandise and tourism related.
3. 3 By region: Six of 10 regions showed an improvement, favorably impacted by the increase in footfall.

Economic Trends Research, November 2022