Japanese Economy Minister statement on the Q3 GDP release earlier (data is here, contraction recorded):
- Risk of global slowdown pushing down Japan's economy warrants attention
- Domestic demand including consumption, capex lacked strength in q3
- Private consumption turned out flat due to effect of price hikes
- Capex weighed by rises in materials prices and declining machinery and construction investments
- Service consumption such as eating out remained in recovery
He added that concerns about the outlook for the Chinese economy need to be closely watched.
