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Japan's capital investment spending drops 11.5 pct in Q1
Date: 2010/6/4 Click: 2194
Capital investment spending at corporations in Japan for all industries in the January-March quarter of this year dropped 11.5 percent compared to the same time a year earlier, the Ministry of Finance (MOF) said Thursday in a report.
Spending by manufacturers on plant equipment fell 31.2 percent, while spending at corporations in non-manufacturing fields grew 0. 4 percent, according to the ministry's survey.
The quarterly survey also revealed that current corporate profits rose by 163.8 percent during the recording period compared with a year earlier.
Additionally, the ministry said corporate sales climbed 10.6 in the recording period.
Capital spending figures are closely watched by economists because the figures are used by the government in revising its preliminary gross domestic product estimate, which showed a 4.9 percent annualized increased during the first quarter.
The Cabinet Office plans to release revised GDP data June 10.
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