Corporate Capex in Japan (Q2-2009) - So, is This What a Recovery Looks Like?

By Claus Vistesen (Copenhagen)Much pomp and circumstance was certainly made in relation to the fact that Japan actually grew in the second quarter at a full annualized 3.7 percent in the second quarter of 2009. Yet, the underlying numbers to suggest a recovery are still sorely missing. Deflation now seem to have taken hold, unemployment is rising fast and although the recent manufacturing