Japan — Q4 Capex: Capital Spending +4.3% y/y (vs. expected +3.0%)

October — December quarter data from Japan, these will impact on the GDP readingBut, as is often the case with Japanese data it won’t move the yen too much on release
Capital Spending +4.3% y/y for Q4 … a solid beat

  • expected +3.0%, prior was +4.2%

Capital Spending excluding software +4.7% y/y

  • expected +2.7%, prior was +4.3%

Company profits 0.9% y/y

  • prior was +5.5%

Company sales 5.9% y/y

  • prior was +4.8%

Profits lacklustre … may be a sing of increased wage pressures …. though little evidence of it in other data. hmmm. 

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