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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: Japan Q1 Capex Down Q/Q; GDP Seen Revised Lower
Combined capital investment by non-financial Japanese companies excluding software fell 0.5% q/q in Q1, decelerating from 8.2% in Q4 2023, a quarterly survey released by the Ministry of Finance showed on Monday.
The MOF survey, based on the demand side, is the key to calculating Q1 GDP revisions due June 10 and indicated capex will be revised down from preliminary estimate of -0.8%, based solely on supply side data.
Based on the MOF data on capex and inventories, the government is likely to revise down from its estimate of Q1 real GDP from the preliminary -0.5% q/q, or an annualised -2.0%.
Combined capital investment by non-financial companies including software fell 4.2% q/q in Q1 after rising 10.7% in Q4.
On a year-on-year basis, capex including software rose 6.8% in Q1, slowing from +16.4% in Q4.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.