Japanese businesses cut back spending in February
Japanese businesses continue to cut back on spending in February, according the latest report from the Ministry of Economy, Trade and Industry.The all-industry activity index showed a 2.0% drop in February, which was in line with economist expectations.
As cited by AFP, Japanese unemployment rose to 4.4 percent in February, up from 4.1 percent the previous month, as firms cut jobs and close factories to cope with the deepening recession, the government said Tuesday.