Japan's Nishimura: Japan's economy in severe state

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.