Information Releases

March. 2024

Economic Trends Research, March 2024

The domestic economy has improved for the first time in three months
— The tourism industry has boosted the economy. Going forward, the focus will be on wage increases and exchange rate movements —

Trend in March 2024: Upswing

The economic diffusion index (DI) in March 2024 was 44.4, up 0.5 points from the previous month, showing the first improvement in three months.
Amid the normalization of monetary policy, the domestic economy has rebounded for the first time in three months, thanks to positive factors such as the strong performance of the tourism industry and the expansion of inbound consumption.

Future outlook: Gradual Recovery

The economy is expected to pick up moderately in the future, centered on consumer spending, amid attention to interest rate movements.

Primary points of survey results(summary)

1. 1 By industry: Improvement in 8 out of 10 industries with personal consumption boosting the economy ahead of the new fiscal year.
2. 2 By scale: Improvement in all scales for the first time in five months, with the food and beverage industry driving growth for small to medium-sized firms.
3. 3 By region: Improvement in 9 out of 10 regions, thanks to the prosperous tourism industry in each area.

Economic Trends Research, March 2024