Japan’s Q4 capex growth picks up in positive sign for economy

The data, which will be used to calculate revised gross domestic products (GDP) due next Wednesday, comes after factory output posted a surprisingly large drop in January as the auto sector dealt with pandemic-induced production suspensions and parts supply shortages.

TOKYO: Japanese firms increased spending on plant and equipment for the third consecutive quarter from October to December, as corporate sentiment got a boost from falling coronavirus cases and helped lift broader economic activity.

A solid recovery of business expenditures is likely to ease worries for policymakers who are facing pressure to bolster the country’s economic recovery as the Ukraine crisis threatens to hurt the global economy.