Information Releases

Feb. 2020

Economic Trends Research, February 2020

COVID-19 significantly holding down the domestic economy
— Nationwide worsening with the movement of people and goods stagnating —

Overview of February 2020: Recession phase

The economic diffusion index (DI) in February 2020 was 38.7, down 3.2 points from the previous month, worsening for the fifth consecutive month, and below 40 for the first time in seven years. Amid a continuing recession phase, the domestic economic situation deteriorated markedly, with the additional impact of COVID-19.

Future outlook: Moderate recession continues

Due to a number of risk factors, including COVID-19, a moderate recession is expected to continue in the domestic economy.

Primary points of survey results(summary)

1. 1 By industry : All ten industries deteriorated. The impact of COVID-19 rippled through various industries.
2. 2 By size : All sizes deteriorated for the fifth month in a row, with a drop of over 2 points across the board due to COVID-19.
3. 3 By region : Nationwide worsening with the movement of people and goods stagnating in 45 prefectures in all ten regions.

Economic Trends Research, February 2020