Japan's stronger Q3 corporate capex points to solid domestic demand
TOKYO - Japanese corporate spending on plant and equipment rose 8.1% year-on-year in the third quarter, Ministry of Finance data showed on Monday, signalling that solid domestic demand was underpinning the country's fragile economic recovery.
Preliminary data last month showed Japan's economy expanded by an annualised 0.9% in the third quarter, slowing from the previous three months. Monday's capex data also showed corporate sales rose 2.6% in the third quarter from a year earlier, while recurring profits decreased 3.3%.Business spending remained generally solid in recent years due to strong appetite for investment in information technology.
Moreover, U.S. President-elect Donald Trump has pledged tariffs on the nation's three largest trading partners - Canada, Mexico and China, potentially affecting global supply chains in a wide range of industries.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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