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MNI BRIEF: Japan Capex Survey Points To Q1 GDP Revision Down

(MNI) Tokyo
TOKYO (MNI)

Combined capital investment by non-financial Japanese companies excluding software rose 0.8% q/q in Q1 2022, down from +2.6% in Q4, a quarterly survey released by the Ministry of Finance on Wednesday showed.

The MOF survey, based on the demand side, is the key to calculating Q1 GDP revisions (due June 8) and indicated that capex will be revised down from a preliminary estimate of +0.5%. Based on the MOF data on capex and inventories, the government is likely to revise down its Q1 real GDP estimate from -0.2% q/q, or an annualized -1.0%, (See MNI INSIGHT:Weak Q2 GDP Would Reinforce BOJ Easy Policy Stance).

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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