The outlook for the Japanese economy is bleaker than ever after employment, production and retail figures, all posted severe falls, says the Telegraph.
The indicators were so bad that analysts have described it as the day the "perfect storm" came ashore. Japan's unemployment soared at the fastest rate in 44 years to 4.4 per cent in December, while industrial output fell a record 9.6 per cent in the same month and retail sales shrank 2.7 per cent, the fourth straight month of decline. All the bad news undermined Prime Minister Taro Aso's confident declaration to Parliament on Wednesday that, "By taking bold countermeasures, Japan will aim to be the first to emerge from this recession." Of particular concern will be the rapid increase ...
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