Prime Minister Yukio Hatoyama 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 February assesses the current state of the Japanese economy, stating that "Although the economy has been picking up, it is short of autonomous factors and remains in a difficult situation such as a high unemployment rate."

On prospects for the economy, it states "As for short-term prospects, although the employment situation remains severe, the economy is expected to pick up reflecting improvement in overseas economies and the effects of the Emergency Economic Measures. On the other hand, attention should be given to the risks that the economy is depressed by a further worsening of the employment situation, concerns over slowdown in overseas economies, and the influence of deflation."