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Japan's solid capex growth points to upward revision to Q1 GDP
Japanese companies raised spending on plant and equipment in January-March at the fastest rate since 2015, led by a recovery in car output and chip making as well as service-sector investment in real-estate, reflecting moderate economic growth. Capital spending has been a bright spot for Japan's economy, the world's third largest, which emerged from a pandemic-induced slump in the first quarter buoyed by rebounding consumption and surprise gains in business expenditure. Japanese firms raised capital expenditure by 11.0 per cent in January-March from the same period a year earlier, posting an eighth straight quarter ... (full story)