Prime Minister Yoshihiko Noda 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 September assesses the current state of the Japanese economy, stating that "The economic recovery appears to be pausing due to deceleration of the world economy."

On prospects for the economy, it states "Concerning short-term prospects, movements toward economic recovery, which would pause for the time being, are expected to resume with the improvement of the overseas economy while reconstruction demand lasts continuously. However, further slowing down of overseas economies and sharp fluctuations in the financial and capital markets under a high degree of uncertainty about the prospects of the Eurozone debt crisis are downside risks of the Japanese economy. Also, attention should be paid to the changes in business profits and income, and the adverse effects of deflation on the economy."