Capital spending by companies grew 10.7 percent from a year earlier in the April-June quarter for the fifth straight quarterly increase, the Finance Ministry reported Monday.
The rate of increase is the highest since the ministry adopted the current calculation method in the July-September period of 2001, fueling hope that Japan's economic growth data for the April-June quarter will be revised upward.
Manufacturers spent 5.6 percent more on plants and equipment, an increase for the fifth straight quarter, while nonmanufacturers spent 13.0 percent more, up for the third consecutive quarter, the ministry's quarterly survey showed.