Kansai Economic Insight Monthly Vol. 84 (April 2020)
Abstract
Outlook: Kansai’s economy is likely to remain on a downward trajectory
▶ Production: Production declined in February.
▶ International trade: In March, Kansai’s trade surplus was smaller than the previous month.
▶ Business confidence: The Economy Watcher DI in March reached an all-time low.
▶ Wages: Both nominal and real wages kept declining in January.
▶ Labor market: In February, the job offers-to-applicants ratio kept deteriorating, and the unemployment rate kept increasing.
▶ Private Consumption: In February, department store sales plummeted while supermarket sales rose due to stockpiling in the face of the coronavirus pandemic.
▶ Housing: The number of new housing starts kept decreasing in February.
▶ Construction: Construction investments in February kept expanding, albeit at a decelerating pace. The contract amount for public works projects in March increased.
▶ Inbound tourism: Due to the impact of the coronavirus, the number of international arrivals at Kansai International Airport in March plunged -95.1% year-on-year.
▶ Chinese economy: China saw its Q1 GDP shrink for the first time since quarterly GDP statistics started in 1992.
著者
INADA, Yoshihisa
Director of Research & Derector of Center for Quantitative Economic Analysis(CQEA), Asia Pacific Institute of Research and Professor emeritus, Konan University
Macroeconomics, Applied Econometrics, Economic Forecasting
KARAVASILEV, Yani
Associate Professor, Kwansei Gakuin University and Research Fellow, Asia Pacific Institute of Research
Economic Development, Foreign Direct Investment, International HRM, the Asian and Japanese Economies
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