Japanese Economy MinisterToshimitsu Motegi happy with the great economic growth numbers for Q2
- No change to view the Japanese economy is in a gradual recovery trend
- Expects economy to recover moderately
- Economic growth riven by domestic demand
- Consumption figures are good but spending still lacks strength, needs close watch in guiding policy
- Must proceed with supply-side reforms to sustain domestic demand-driven economic growth
- Not considering fresh stimulus now
Comments via Reuters
Japanese Economy Minister Toshimitsu Motegi (speaking with media following the release of the GDP numbers for Q2) said he saw no need now to compile a new stimulus package for the economy given the strength in private consumption and capital expenditure:
- "Consumption and capital expenditure are very strong, and they make up most of domestic demand. As a whole, we saw good figures today"
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