Japan second-quarter corporate capex rises 3.1 percent: MOF

August 31, 2016 7:58 PM EDT

A man walks past a factory at the Keihin industrial zone in Kawasaki, south of Tokyo, Japan, August 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo

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TOKYO (Reuters) - Japanese companies raised spending on plant and equipment in April-June by 3.1 percent from the same period last year, Ministry of Finance data showed on Thursday, slowing from the prior quarter in a sign capital expenditures lack momentum.

That followed a 4.2 percent year-on-year rise in capital spending in the previous quarter.

The data will be used to calculate revised gross domestic product figures due on Sept. 8.

A preliminary estimate showed the world's third-largest economy stalled in the April-June quarter, registering a meager 0.2 percent annualized expansion due to weak exports and capital spending.

(Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)

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