This article analyzes and reports on economic trends in Hokkaido. This article covers the regional economic outlook published by the Hokkaido Bureau of Economy, Trade and Industry on July 18, 2025, showing the overall assessment that Hokkaido's economy is "picking up gradually" based on analysis centered on May 2025 economic indicators.
By sector trends, production activities changed from the previous month's "signs of recovery are seen" to "flat trend," showing a pause in manufacturing movements. Personal consumption maintains the assessment of "improving gradually with some stagnation," indicating that the recovery trend from the COVID-19 pandemic continues but is not complete. In tourism, the assessment of "improvement continues" has been maintained for three consecutive months, believed to be contributed by recovery of inbound demand and domestic tourism revitalization.
In construction and investment-related areas, public works continues from the previous month with "increased," while housing construction was revised downward from "signs of recovery are seen" to "weakening," raising concerns about declining housing demand. Private equipment investment was revised upward from the previous month's "decreasing" to "increasing," confirming recovery of corporate investment sentiment. This can be interpreted as evidence of improved corporate earnings and future expectations.
Employment trends maintain the assessment of "weakening" for three consecutive months, indicating that labor market improvement requires time. Corporate bankruptcies show "both numbers and total liabilities decreased," improving from the previous month's increase. This suggests stabilization of corporate management environment. Overall assessment maintains "picking up gradually" for three consecutive months, confirming a steady recovery trend. However, vigilance is also expressed regarding the need to closely monitor international economic trends, showing risk awareness of external environmental changes.
Detailed materials are provided including Recent Regional Economic Outlook (PDF format/463KB) and Major Economic Indicators (Excel format/42KB, PDF format/102KB), enabling access to more detailed analytical data. The article concludes that while Hokkaido's economy is on a recovery track, continuous careful monitoring is necessary.