Japan's Q2 capex rises strongly by 7.4%

By Reuters

Sep 03, 2024 12:14 am

TOKYO — Japanese corporate spending on plant and equipment rose at a faster pace in the second quarter, keeping alive expectations of a domestic-led recovery in economic growth and supporting the case for more interest rate increases over the coming months.

The solid expenditure data, which will be used to calculate revised gross domestic product (GDP) figures due on September 9, comes on top of a factory survey showing a milder contraction in manufacturing activity last month.

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