Information Releases

March. 2023

Economic Trends Research, March 2023

Domestic economy improves for the first time in four months
— Efforts to move past COVID are accelerating thanks to strong tourism and entertainment coinciding with season demand —

Trends in March 2023: Turning upward

The economic diffusion index (DI) in March 2023 was 43.9, up 1.8 points from the previous month, the first improvement in four months. Though some concerns still exist, the domestic economy turned upward, driven by consumption activity brought about by larger numbers of people going out in public.

Future outlook: Economy will largely trend flat

Going forward, despite the existence of factors that may cause downward shifts such as soaring raw materials costs, economic trends are expected to largely trend flat.

Primary points of survey results(summary)

1. 1 By industry: Improvement in all 10 industries. Realization of a virtuous cycle thanks to a more vitalized market made possible through more relaxed mask regulations and other factors.
2. 2 By size: All scales improved for the first time in four months, driven by tourism and other factors.
3. 3 By region: Improvement in all 10 regions, with local economies being boosted thanks to various factors, such as more people going out in public.

Economic Trends Research, March 2023