technology advances, the risk of technology abuse will increase, and vigilance is therefore essential to maintain security. i will be following with great interest how technological innovations in finance - - so - called fintech - will contribute to financial inclusion for senior citizens. concluding remarks one realistic option to ensure a comfortable living in later life is to continue working as long as possible. 6 professor lynda gratton, 7 who is here today as a speaker in the next session, argues that we can now look forward to a 100 - year life, living and working much longer. in such a society, the idea of a traditional three - stage work - life model - - first education, then work, and finally retirement - - will become outdated, and a multi - stage model - - undergoing many life and career transitions - - will become the new standard. in this regard, the japanese government is promoting working - style reforms that also take longevity into consideration. in light of these changes and challenges, the bank of japan is working to support the development of sound financial services by, for example, improving financial literacy through the activities of the ccfsi, and promoting fintech, so that everyone can use financial services with confidence, even in an aging society. thank you for your kind attention. according to the annual report on the ageing society : 2018 released by the cabinet office, about 40 percent of working people aged 60 or over answered that they would like to work " till anytime as long as i can work. " when adding those who answered they would like to work " till almost 70, " " till almost 75, " and " till almost 80, " about 80 percent of the respondents were very eager to work even in their old age. 7 professor of management practice at london business school. co - author of : lynda gratton and andrew scott, " the 100 - year life - - living and working in an age of longevity. " ( london : bloomsbury publishing, 2016 ).

economy – may not regain momentum soon. therefore, i am carefully monitoring these developments. b. domestic demand economic recovery this time has been led by the nonmanufacturing sector so far, mainly driven by private consumption. in order to have continued firm domestic demand, it is important to maintain a situation in which improvement in the employment and income situation supports consumption. another important factor in considering the future of domestic demand is the increase in firms ’ business fixed investment. turning to indexes related to consumption, private consumption remains resilient, but there is a sign of slowing in its growth momentum. the household activity - related diffusion indexes ( dis ) for current and future economic conditions in the economy watchers survey, which seem to reflect consumer confidence, dropped for the fifth consecutive month since april 2013. this development is consistent with that of real consumption expenditure in the family income and expenditure survey. the sign of slowing in consumption is also reflected to the latest gdp statistics. the real gdp growth rate in the july – september quarter of 2013 registered 0. 5 percent on a quarter - on - quarter basis. on an annualized quarter - on - quarter basis, it slowed to 1. 9 percent from around 4. 0 percent in the first half of the year. private consumption also slowed compared to the first half of the year, to 0. 1 percent on a quarteron - quarter basis. business fixed investment on the whole grew for the third consecutive quarter, reflecting an improvement in corporate profits, to 0. 2 percent on a quarter - on - quarter basis, but the recovery in the manufacturing sector still shows a lackluster performance. meanwhile, exports – which largely affect investment by manufacturing firms – lack resilience and decreased for the first time in three quarters, to minus 0. 6 percent on a quarter - onquarter basis. i think the key to the future of domestic demand lies particularly in the extent to which business fixed investment will grow under these circumstances, but that a full - fledged recovery of such investment will take time. c. outlook for prices as for the outlook for prices, i formulated a proposal to make the following changes in the october 2013 outlook report, although it was defeated by a majority vote during the bis central bankers ’ speeches monetary policy meeting ( mpm ). first, with regard to the outlook for prices toward the latter half of the projection period, i proposed to change the current expression that the year - onyear rate of change in the cpi “ is