TOKYO (Reuters) – Japanese companies raised spending on factories and equipment in January-March by 4.3% from the same period a year earlier, preliminary data from the Ministry of Finance showed on Monday.
On a seasonally-adjusted basis, capital expenditure rose 6.7% quarter-on-quarter in January-March, the data showed.
The data will be used to calculate revised gross domestic product figures due June 8. The preliminary GDP data showed that Japan’s economy fell into recession in January-March as it shrank at a 3.4% annualised pace, the second straight quarter of contraction.
(Reporting by Daniel Leussink; Writing by Tetsushi Kajimoto; Editing by Chris Gallagher)
