[Teikoku Databank Co., Ltd.] Domestic economy improves for two consecutive months; in addition to the tourism industry,
semiconductor-related and other manufacturing industries are boosting *Teikoku Databank Co., Ltd.*
Press release: September 4, 2024
**
Domestic economy improves for two consecutive months; in addition to the tourism industry, semiconductor-related and other manufacturing industries are boosting
*TDB Economic Trend Survey (Nationwide) – August 2024 Survey -* photo by PIXTA
Teikoku Databank Co., Ltd. has surveyed and compiled domestic economic trends for August 2024 targeting 27,247 companies across the country, and released the results as the Economic DI.
-Survey results (summary)-
1.
The economic DI for August 2024 increased by 0.5 points from the previous month to 44.3, improving for the second consecutive month. The domestic economy was driven by the tourism industry and seasonal demand, boosting overall business confidence. Although there are some uncertain factors such as the situation overseas, there are many positive factors such as IT-related investment, and the economy is expected to remain firm going forward.
2.
By industry, 7 out of 10 industries improved, including
“manufacturing”, and 3 industries deteriorated. In particular, good news has spread to a wide range of industries, including food and beverages and food manufacturing, due to increased opportunities to go out, the intense heat, and last-minute demand for stockpiled items. By region, 9 out of 10 regions improved and 1 region worsened. Despite an earthquake in the middle of the month and a typhoon landing in the latter half of the month, the positive factors were the boost in tourism-related and local industries in each region. By size, “large companies” remained unchanged, while “small and medium-sized companies” and “small companies” both improved.
3. With summer in full swing, we received positive feedback mainly from events related to summer festivals due to the increased number of people during the Obon season.
Survey period: August 19th to August 31st, 2024 (Internet survey) Survey target: 27,247 companies surveyed, 11,414 valid responses, response rate 41.9%, survey started May 2002
Research institution: Teikoku Databank Co., Ltd.
The survey results are also available on the website below.
https://www.tdb-di.com/economic-trend-survey/ets202408.php
The economic DI in August 2024 increased by 0.5 points from the previous month to 44.3, improving for the second consecutive month. * The domestic economy was driven by the tourism industry and seasonal demand, boosting overall business confidence. *
In August, economic activity was affected by the continued heat wave nationwide and the effects of earthquakes and typhoons. Business confidence in the tourism industry has improved due to strong inbound demand and increased opportunities to go out during the Obon season. In addition, demand for beverages, frozen desserts, cafes and other food and beverage products, heatstroke prevention goods, and air conditioning equipment construction increased due to the intense heat, as well as last-minute demand in preparation for natural disasters. In addition to strong semiconductor-related capital investment, the spread of price pass-through is also a positive factor. On the other hand, there were negative factors such as factory suspensions, continued labor shortages, and increased cost burdens.
*