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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Capital Spending YoY climbed to 8.1% in July 2024
FMPMonthlyReleased December 2024
Japan Capital Spending YoY climbed to 8.1% in July 2024, released December 2024, up 0.7% from June's 7.4% reading. The print exceeded the 7.1% consensus by 1.0%. Capital Spending YoY has now risen for 3 consecutive months. Capital Spending YoY is now the highest in 6 months.
Latest Release
8.1
Actual
7.1
Consensus
7.4
Previous
Median Absolute Error
±4.6 percentage points
across last 12 releases
Last Call
Dec 2024
Predicted: 7.1
Actual: 8.1
Error: -1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/JPY | ▼ Inverse | −0.50 | FOREX | Bullish JPY | → View |
| EUR/JPY | ▼ Inverse | −0.45 | FOREX | Bullish JPY | → View |
| Nikkei 225 | ▲ Direct | +0.45 | INDEX | Bullish JP | → View |
| GBP/JPY | ▼ Inverse | −0.40 | FOREX | Bullish JPY | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Capital Spending YoY (Japan) was reported at 8.1% in December 2024. This beat the market consensus of 7.1% by 1%. The reading rose from the previous value of 7.4%.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 7.43%, down from the prior three at 8.1%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/JPY (Bullish JPY). A secondary relationship exists with EUR/JPY, negatively correlated (Bullish JPY). Over the last 12 releases, the Sigmacast model's median absolute error is 4.6%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Core Inflation Rate YoY (Jun 18) and Inflation Rate YoY (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update December 2024.
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Capital Spending YoY - JP
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About Capital Spending YoY — Japan
DEFINITION
Capital Spending YoY (Year-over-Year) is a financial indicator that measures the change in a company's capital expenditures from one year to the next. It provides insight into a company's investment in long-term assets, such as equipment, buildings, and technology, and can indicate its growth and expansion plans. This indicator is often used by investors and analysts to assess a company's financial health and future prospects. A positive YoY change in capital spending may suggest confidence in the company's growth potential, while a negative change may indicate caution or financial constraints.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2024): actual 8.1 %, consensus 7.1 %. Prior reading (Apr 2024): 7.4 %. Before that (Jan 2024): 6.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/JPY (Bullish JPY, r=-0.50) — a useful reference for forex-focused traders.