Information Releases

May. 2024

Economic Trends Research, May 2024

The domestic economy worsened　for the second consecutive month
— Weak consumer spending was a downside factor. Positive turnaround in real wages is key going forward —

Trend in May 2024: Two consecutive months of decline

The Economic Diffusion Index (DI) in May 2024 declined by 0.6 points from the previous month to 43.5, marking the second consecutive month of deterioration.
The domestic economy declined for two consecutive months due to sluggish consumer spending and increased cost burden from high raw material prices.

Future outlook: Remain unchanged

In the future, the economy is expected to remain relatively flat as positive and negative factors continue to manifest.

Primary points of survey results(summary)

1. 1 By industry: Worsened in 8 out of 10 industries, with a decline in consumer sentiment affecting a wide range of business categories.
2. 2 By scale: Worsened in "small to medium-sized firms" for two consecutive months, with the manifestation of the 2024 problem.
3. 3 By region: Worsened in 9 out of 10 regions, with the tourism industry underperforming and impacting the business sentiment across various regions.

Economic Trends Research, May 2024