Japanese capital expenditure in the second quarter of 2018 (April to June)
Capital Spending y/y, +12.8% and for a big beat (fastest grpwth since Dec quarter of 2006 for this)
- expected 6.5%, prior was 3.4%
Capital Spending excluding software y/y, 14.0% … ditto
- expected 7.4%, prior was 2.1%
Company profits, +17.9%
- prior was 0.2%
Company sales, +5.1%
- prior was 3.2%
Solid numbers all 'round. You'd think that if inflation was on target for the BOJ they'd be cutting back the monetary policy stimulus and such results would be a yen positive. But, of course, inflation (below target) is a thorn in the side for the central bank, being way below what they want.
