Economic activity  Now, I will discuss Japan’s economic activity. BIS central bankers’ speeches  3  The Bank’s current assessment is that Japan’s economy has continued to recover moderately. Moreover, a front-loaded increase in demand prior to the consumption tax hike has recently been observed.
Real GDP for the October–December quarter of 2013, released on February 17, 2014, showed quarter-on-quarter growth of 0.3 percent, representing the fourth consecutive quarter of positive growth. By component, private demand for the quarter, including private consumption and business fixed investment, recorded a higher growth rate than in the July–September quarter.