Framing Analysis
Japan's Finance Ministry reported capital spending excluding software increased 2.9 percent from the prior quarter, while spending including software rose 1.6 percent year-over-year. Current profits advanced 24.6 percent and sales grew 5.9 percent, exceeding the median economist forecast of a 0.3 percent decline for software-inclusive spending. Preliminary GDP data showed corporate investment down 1.2 percent and consumer spending flat, with final second-quarter figures due September 8.