- Japan’s capital spending rose 1.6% year over year in Q2, up from a 0.05% gain in the previous quarter.
- The capex data feeds into revised GDP calculations; preliminary Q2 GDP growth was an annualized 1.1%.
- The stronger business-investment pace supports the BOJ’s case for further rate hikes.
Quotes
“Capital spending in the second quarter rose 1.6% compared to the same period last year”