2024 Volume 54 Issue 2 Pages 121-135
National and local governments implement economic policies based on their judgments of economic trends and direction. Understanding and analyzing these policies are essential, but economic trends are not uniform across the country and differ from region to region. To implement economic measures tailored to regional economic conditions, it is necessary to grasp economic trends and the reasons for their fluctuations quickly and appropriately at the regional level. Comprehensive economic sentiment and measurement of economic turning points at the national and regional levels are based on the Composite Index （CI）, but CI at the prefecture level should appropriately reflect regional characteristics. The problem lies in the fact that constituent series from different fields are combined at the same ratio. Therefore, in this paper, we focus on methods for creating the current CI and prefectural CI as a composite ratio of statistics that can reflect regional economic and industrial characteristics, and estimate the CI based on these characteristics. The results show that CI can be more closely linked to other economic indicators and business surveys and are useful as indicators for understanding recent economic trends.
JEL classifications:E32, R11, R15
