Prime Minister Naoto Kan attended a meeting of the Ministerial Council on Monthly Economic Report and Other Relative Issues at the Prime Minister's Office.

The Monthly Economic Report for October assesses the current state of the Japanese economy, stating that "The economic movements appear to be pausing recently. It also is in a difficult situation such as a high unemployment rate."

On prospects for the economy, it states "As for short-term prospects, although some weak movements can be seen for a while, the economy is expected to be picking up, reflecting improvement in overseas economies and the effects of various policy measures. On the other hand, the risks that the economy is depressed by a possible slowdown in overseas economies and fluctuations in exchange rates and stock prices are increasing. It should also be noted that there is still a risk of the influence of deflation on the economy and a concern about a possible deterioration of the employment situation."