Japan's capital expenditure grew less than initially estimated in the first quarter as the coronavirus pandemic hit the economic activity severely, revised data from the Ministry of Finance showed on Monday.
Investment in plant and machinery grew only 0.1 percent on a yearly basis instead of 4.3 percent increase estimated previously.
Investment of manufacturing firms declined 5.3 percent compared to the initial estimate of 0.6 percent increase. At the same time, capex of non-manufacturing companies grew 2.9 percent versus 6.2 percent rise estimated initially.
On a quarterly basis, capital expenditure increased 3.6 percent, which was down from the previous estimate of 6.7 percent.
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