Japan's capital spending rises 3.4 pct in July-Sept. quarter-Xinhua

Japan's capital spending rises 3.4 pct in July-Sept. quarter

Source: Xinhua

Editor: huaxia

2023-12-01 12:11:30

TOKYO, Dec. 1 (Xinhua) -- Capital spending by Japanese companies in the July-September period increased 3.4 percent year-on-year for the 10th straight quarter of gains, the government said Friday, following a 4.5 percent growth in the previous quarter.

Investment by all non-financial sectors for purposes, such as building factories and adding equipment, totaled 12.41 trillion yen (84 billion U.S. dollars), the finance ministry said.

"The data shows that Japan's economy is recovering moderately," a ministry official said. "We will pay attention to the impact of a slowdown in the global economy and inflation on firms."

The reading will be used to revise third-quarter gross domestic product (GDP) data, which will be released next Friday.

Japan's economy shrank by an annualized 2.1 percent in the three months to September, marking the first contraction in three quarters, hurt by lackluster consumption and capital investment.