"A marked improvement in capital expenditure led to an upward revision in April-June gross domestic product to an annualized 3.8 percent expansion from a preliminary 2.6 percent increase, according to data released by the Cabinet Office."
This month I have been acknowledging my previous under estimation of the awesome powers of CBs to prop up their economies in the short run through QE. (this highlights even more what the European periphery (PIIGS) is missing out on) Will structural reforms follow?
However, real wages for most industries in Japan continue to fall.
from the WSJ :
"Mr. Abe has acknowledged that without substantial wage growth, there can be no sustainable economic expansion."
As I said last week, I am not sure how to interpret these conflicting signs or how to update my pessimism..