Japan Q4 capital spending +2.8% y/y
- expected +4.1% and prior was +5.5%
Q4 capital spending excluding software +3.9% y/y
- expected +5.0%, prior was +5.6%
Q4 company profits +11.6%
- prior was +7.6%
Q4 company sales +2.4%
- prior was +2.9%
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Weaker than expected capital spending ... which won't be welcome in the halls of the Japanese administration and central bank. They'd like to see companies investing at a faster rate.
Company profits up strongly .... the benefits of a weakening yen apparent in that metric.
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Still to come ... at 0135GMT - Markit/JMMA Japan manufacturing PMI,
- The flash reading was 51.5
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USD/JPY nibbling into the offers between 80 and the figure:
