Japan corporate capital spending in Q3 up 11.2%

Tokyo

JAPAN'S economy may not, after all, have fallen into a recession in the third quarter of this year, according to official data that showed a sharp increase in corporate capital spending - a major component of gross domestic product (GDP) - during the period.

The revised data corrected an earlier estimate that capital investment had fallen during the third quarter of 2015, contracting for a second consecutive three months, which implied that the world's third largest economy had entered a technical recession.