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UPDATE 3-Capex drives Japan's fastest expansion since 2016, seen backing growth [Reuters]

Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG) 
US:NYSE Investor Relations: smfg.co.jp/english/investor
Company Research Source: Reuters
Capex drives Japan's fastest expansion since 2016, seen backing growth | Reuters 4 Min Read TOKYO (Reuters) - Heavy capital spending in the second quarter drove Japan’s economy to its fastest growth since 2016, underscoring the view that capex continues to back the economy even as trade tensions and a string of natural disasters pose risks to the outlook. Revised Cabinet office data out on Monday showed the economy grew an annualized 3.0 percent in April-June, handily beating economists’ median estimate for 2.6 percent gain and the initial estimate of a 1.9 percent expansion. It was the fastest expansion since first-quarter 2016. The economy’s improved performance should be a relief for policymakers worried over fallout from a trade war between the United States and China, which could derail global growth and in turn damage Japan’s export-reliant economy. Capital expenditure has been a bright spot in Japan’s economy, the world’s third largest, although companies remain cautious about Show less Read more
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