Japan third quarter corporate capex up 4.5% year-on-year

Employees work an assembly line at a factory of Glory Ltd., a manufacturer of automatic change dispensers, in Kazo, north of Tokyo, Japan. - Reuters filepic

TOKYO: Japanese companies raised spending on plant and equipment by 4.5 percent in July-September from the same period a year earlier, Ministry of Finance (MOF) data showed on Monday.

The data will be used to calculate revised gross domestic product figures due on Dec. 10.

A preliminary estimate out last month showed Japan's economy contracted by an annualised rate of 1.2 percent in the third quarter due to natural disasters and sluggish external demand. - Reuters