The Bank of Japan’s Fukuoka Branch has retained its assessment that the economy of Kyushu and Okinawa is “steadily recovering,” amidst ongoing consumer spending recovery and price rises. Branch Manager Oyama highlighted the positive cycle of income to expenditure in the region, driven by robust retail sales and tourism demand. The future economic outlook hinges on the upcoming spring wage negotiations, which could significantly influence personal consumption by potentially exceeding the inflation rate. Key factors such as public investment, corporate investment, manufacturing output, and consumer spending trends will be crucial in maintaining the momentum of economic recovery in the region. Source: Bank of Japan Fukuoka Branch / NHK
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