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3 Apr 2015
Japan: Prospect of further upward revisions to FY15 fixed investment forecasts – Nomura
FXStreet (Barcelona) - Research Analysts at Nomura, see prospect of further upward revision in the fixed investment forecasts March Tankan when comparing with the historical revision pattern.
Key Quotes
“In the BOJ Tankan Summary (March 2015) published on 1 April, the forecast for growth in fixed investment in FY15 at companies of all sizes and in all industries came in at -5.0% y-y.”
“…initial capex plans are often downbeat in March, but tend to be revised up over time. Based on the historical pattern of revisions during periods of economic recovery, we calculate mechanistically that capex will ultimately rise 4.7% in FY15.”
Key Quotes
“In the BOJ Tankan Summary (March 2015) published on 1 April, the forecast for growth in fixed investment in FY15 at companies of all sizes and in all industries came in at -5.0% y-y.”
“…initial capex plans are often downbeat in March, but tend to be revised up over time. Based on the historical pattern of revisions during periods of economic recovery, we calculate mechanistically that capex will ultimately rise 4.7% in FY15.”