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Japan’s Nishimura: Japan’s economy in severe state but GDP contraction smaller than Europe, US economies.

Key comments 

  • Hope recovery in US, Europe, Chinese economies drive up Japan exports.
  • Will respond as needed while watching deveelopments of coronavirus and economy and impacts on people’s livelihood.
  • Consumption of goods, services showing signs of a pickup.
  • Govt will continue to do utmost to put japan’s economy on recovery path after it bottomed out in April, May.
  • Will support employment with subsidies and back private consumption.
  •  Will take all possible policy steps to bring economy back on track to domestic demand-led growth.