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Japan Capital Spending Jumps 7.6% In Q4

2/29/2012 7:19 PM ET

Capital spending in Japan was up 7.6 percent on year in the fourth quarter of 2011, the Ministry of Finance said on Thursday, standing at 9.944 trillion yen.

That blew away forecasts for a contraction of 6.5 percent following the 9.8 percent plunge in the third quarter.

Excluding software, capital spending climbed 4.9 percent on year to 8.955 trillion yen. That also shattered forecasts for a decline of 7.4 percent following the 11.0 percent fall in the previous three months.

by RTT Staff Writer

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