Japan's economy probably grew more than the government expected


Capital spending surged 13.6 percent to the highest ever in the first quarter, the Finance Ministry said, prompting economists to say corporate outlays were stronger than the initial GDP report suggested.

Japan's economy probably grew more than the government initially estimated in the first quarter after a report today showed business investment rose to a record.

Capital spending surged 13.6 percent to the highest ever in the first quarter, the Finance Ministry said, prompting economists to say corporate outlays were stronger than the initial GDP report suggested.

The economy expanded at an annual 3.2 percent pace in the three months ended March 31, faster than the 2.4 percent preliminary number, according to the median estimate of 15 economists surveyed by Bloomberg News. 


Bloomberg
6/7/2007 11:37:45 AM