Japan’s Nishimura: GDP data shows economy in gradual recovery

Reuters reports the latest comments from the Japanese Economy Minister Yasutoshi Nishimura, as he expresses his afterthoughts on the below forecasts Japanese Preliminary Q3 GDP report.

Key Quotes:

GDP data shows economy in gradual recovery.

Will closely watch private consumption.

Expect moderate econ recovery to continue ahead.

Must be vigilant to effects of sales tax hike, will prepare against downside risks from overseas economies.

Will do utmost to compile solid econ package to overcome downside econ risks.

Demand rush ahead of sales tax hike was smaller than before previous tax increase.

Exports of autos, electronics parts remain weak.

Effects from worsening ties with South Korea had big impact on weak exports.

Fundamentals that support private consumption remain solid.

Economy still halfway to completely beating deflation.

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