Japan’s Capital Spending Jumps as Firms Surprisingly Bullish
- Corporate profits advance for fourth straight quarter
- Signs of corporate resilience make it easier for BOJ to hike
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Japanese businesses ramped up investment in the final quarter of 2023, an indication that firms were more bullish than indicated in overall growth figures for the period released last month.
Capital expenditures on goods excluding software rose 8% in the three months through December compared with the previous quarter, the finance ministry reported Monday. From a year earlier, the outlays gained 11.7%.