Kansai Economic Insight Quarterly Vol.49

Covid-19 to further debilitate Kansai’s economy: a slump in private and external demand.

▶ Our forecast for Kansai’s real GRP growth is -5.1% in FY 2020 and +2.6% in FY 2021.

▶ We estimate that the economic loss caused by the state of emergency in Kansai will be JPY 154.3 billion in terms of private consumption, JPY 825.2 billion in terms of private capital investment, and JPY 3,211.8 billion in terms of exports, adding up to a total GRP loss of JPY 3.75 trillion. 158 thousand employees are expected to lose their jobs.