Japanese capex reading could lead to upward revision of GDP

|By:, SA News Editor

Japanese capital spending unchanged on year in Q2 vs -3.9% in Q1 and consensus of -2%.1. On quarter, capex +2.9%.

Corporate current profits +24%, corporate sales -0.5%.

JPMorgan and UBS say Q2 GDP may be revised up from a preliminary reading of +2.6% following the capex data, which could make the government more inclined to go through with proposed increases in sales tax. A decision is expected early next month.

Nikkei +1.4%, USD-JPY +1.2% to ¥99.32. (PR)

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