Motegi referring to the data just released. I am adding commentary to that post along the lines that Motegi is referring to:

  • Floods
  • Earthquake

post is here:

Reuters report his comments:

  • No change to view Japan's economy recovering moderately
  • GDP contraction due to temporary hit to consumption from natural disasters, export decline
  • Expects Japan's economy to continue recovery driven mainly by private demand
  • Must be vigilant to impact on economy from overseas uncertainties, market volatility and trade woes
  • Govt to conduct flexible economic, fiscal policy with eye on domestic, overseas economic developments
  • Will make utmost efforts on economic policy ahead of next year's scheduled sales tax hike

more to come