Consumers Closing Wallets in Japan Add to Noda’s Woes

Japanese consumers are closing their wallets as the economy’s outlook darkens, making it harder for Prime Minister Yoshihiko Noda to stave off the nation’s third recession in four years. Households are holding the most cash since 2005, shunning risk as they grow gloomier, Bank of Japan data show…

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Consumers Closing Wallets in Japan Add to Noda’s Woes