Japan economy minister Nishimura on the severe state of Japan's economy

The minister's remarks come in the wake of the recessionary GDP data earlier:

• Japan GDP for Q1, preliminary: GDP -0.9% sa q/q (vs. expected -1.1%)

Nishimura:

• weakness in external, domestic demand underscores severe state of Japan's economy
• Japan's economy expected to slump significantly due to soft overseas demand blamed on coronavirus pandemic
• govt must carefully watch risk of further economic downturn, market volatility caused by pandemic