Japan's Motegi: Fourth quarter data shows modest economic recovery

While the fourth quarter gross domestic product (GDP) data released earlier today showed modest economic recovery, the external demand slowdown warrants attention, Japan's economic minister Motegi has reportedly said. 

The revised data from the Cabinet Office released 30 minutes ago showed the economy expanded at an annualized rate of 1.9 percent in October-December, more than the initial estimate of a 1.4 percent expansion. 

On a quarter-on-quarter basis, GDP grew 0.5 percent, versus the preliminary estimate of 0.3 percent growth and economists’ median estimate of a 0.4 percent expansion, according to Reuters. 

Key quotes

• Economy's steady recovery has been confirmed
• watching overseas economic risks including the outlook for China 
• Will refrain from commenting on Trump's comments
• Has spoken to Lighthizer about Japanese factories in the US