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Japanese companies raised spending on plant and equipment in the July-September quarter, Ministry of Finance data showed on Thursday, in a sign business investment remains resilient and a boost to recovery from a COVID-19 induced downturn.
Solid capital expenditure could keep alive hopes for a private demand-led recovery, although overseas economies teetered on the edge of a global slump, led by China whose zero-coronavirus policy curbs have backfired on growth.
Japanese firms increased capital spending in the third quarter by 9.
