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Japan Q1 capex rises but at slower pace
Japanese companies raised spending on plant and equipment in January-March by 6.8 per cent from the same period a year earlier, Ministry of Finance data showed on Monday. The data will be used to calculate revised gross domestic product figures due on June 10. It followed a preliminary estimate that Japan's economy contracted 2.0 per cent annualised in the first quarter. Capital spending slowed sharply from the fourth quarter, when it had jumped 16.4 per cent. The solid first-quarter capex data could bolster the case for the central bank to proceed with normalising monetary policy over time. Capital expenditure fell ... (full story)