Information Releases

Apr. 2020

Economic Trends Research, March 2020

Domestic Economy, biggest drop on record
— Declined to the level following the Great East Japan Earthquake.Growing uncertainty over the future —

Overview of March 2020: Recession phase

The economic diffusion index (DI) in March 2020 was 32.5, down by 6.2 points from the previous month, it has continued to worsen for the sixth consecutive month, and the largest drop on record. The domestic economy recorded its largest decline amid a recession phase, due to the widening impact of COVID-19.

Future outlook: Moderate recession continues

With growing uncertainty about overseas trends and COVID-19, the recession is expected to continue.

Primary points of survey results(summary)

1. 1 By industry : Worsening in 51 business categories in all ten industries. Among these, 23 business categories recorded their largest drop.
2. 2 By size : The largest decline was recorded in all sizes. Stagnation of human resources, goods and capital held down business confidence.
3. 3 By region : Nationwide worsening in 47 prefectures in all ten regions. COVID-19 impact spread nationwide.

Economic Trends Research, March 2020