Capital Spending Among Japanese Firms Up 5%

Capital spending among surveyed Japanese companies increased 5% from a year earlier to 9.555 trillion yen ($113.66 billion)--the first rise in 14 quarters, reports the Wall Street Journal.

 

Citing a quarterly survey released by the Ministry of Finance, the newspaper says spending was boosted by car makers and telecommunications firms.

 

"Although capital expenditure is recovering, the pace of improvement is modest at best, and will remain so," Yoshimasa Maruyama, a senior economist at trading company Itochu Corp. told the Journal. "The data do not mean that capital spending will become a growth driver for the Japanese economy."

 


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