Japan firms increased capital spending in Q2, signalling resilience to the Middle East conflict and raising the likelihood of an upward GDP revision. Data published Tuesday showed capital expenditure excluding software rose 2.9% quarter-on-quarter in the three months to end-June. Capex including software was up 1.6% YoY versus economists' forecast for a 0.3% decline. Sales rose 5.9% YoY and profits jumped 24.6%, well above expectations. The results could prompt an upward revision to Q2 GDP due S

Japan firms increased capital spending in Q2, signalling resilience to the Middle East conflict and raising the likelihood of an upward GDP revision. Data published Tuesday showed capital expenditure excluding software rose 2.9% quarter-on-quarter in the three months to end-June. Capex including software was up 1.6% YoY versus economists' forecast for a 0.3% decline. Sales rose 5.9% YoY and profits jumped 24.6%, well above expectations. The results could prompt an upward revision to Q2 GDP due Sep 8.