second biggest economy grew 1.6% on annualised rate, much better than what had been predicting, thanks to private consumption and an unexpected rise in capital expenditure. let s bring in neil newman from the quarry capital who joins us live from tokyo. thank you for joining us. the data has come out a lot stronger than expected, talk us through what s been doing quite well. this is a very big and positive surprise. we have been closely watching wage growth, the wage number, which hasn t really filtered through into anything visible as yet. the gdp numbers certainly does indicate there is a large amount of the domestic economy contributing to this. as you mentioned cap ex, business spending was up on the annual basis, way ahead of expectations. but even consumption was also up, 0.6% against the market consensus of 0.4. even though it appears the wage number we have been looking at, the last numbers in march, they were not that impressive, in fact they were quite depressing. t
second biggest economy grew 1.6% on annualised rate, much better than what had been predicting, thanks to private consumption and an unexpected rise in capital expenditure. let s bring in neil newman from the quarry capital who joins us live from tokyo. thank you for joining us. the data has come out a lot stronger than expected, talk us through what s been doing quite well. this is a very big and positive surprise. we have been closely watching wage growth, the wage number, which hasn t really filtered through into anything visible as yet. the gdp numbers certainly does indicate there is a large amount of the domestic economy contributing to this. as you mentioned cap ex, business spending was up on
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