Information Releases

October. 2023

Economic Trends Research, October 2023

The economy slightly improved for the first time in three months, supported by strong tourism in each region
— Active events and semiconductor-related demand were positive factors —

Trend in October 2023: Slightly improved

The economic diffusion index (DI) in October 2023 was 44.7, up 0.3 points from the previous month, showing the first improvement in three months.
The domestic economy improved slightly, due to positive factors such as active events and inbound tourism demand, as well as semiconductor-related demand.

Future outlook: Remain unchanged

The domestic economy is expected to remain unchanged, supported by consumer spending and capital investment, despite the risks posed by overseas situations.

Primary points of survey results(summary)

1. 1 By industry: Improved in 9 out of 10 industries. The bustle in each region and IT demand were positive factors.
2. 2 By scale: Companies of all sizes showed an improvement for the first time in five months. “Construction”, “Manufacturing”, and “Service” increased in all scales.
3. 3 By region: Improved in 7 out of 10 regions. Strong tourism was a positive factor in each region.

Economic Trends Research, October 2023